The Hartford 2013 Annual Report Download - page 30

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PART II
Item 5. MARKET FOR THE HARTFORD’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
The Hartford’s common stock is traded on the New York Stock Exchange (“NYSE”) under the trading symbol “HIG”.
The following table presents the high and low closing prices for the common stock of The Hartford on the NYSE for the periods indicated,
and the quarterly dividends declared per share.
1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr.
2013
Common Stock Price
High $ 26.46 $ 31.43 $ 32.30 $ 36.62
Low $ 23.05 $ 24.82 $ 29.60 $ 30.68
Dividends Declared $ 0.10 $ 0.10 $ 0.15 $ 0.15
2012
Common Stock Price
High $ 22.02 $ 21.95 $ 20.34 $ 22.88
Low $ 16.37 $ 16.10 $ 15.93 $ 19.41
Dividends Declared $ 0.10 $ 0.10 $ 0.10 $ 0.10
On February 27, 2014, The Hartford’s Board of Directors declared a quarterly dividend of $0.15 per common share payable
on April 1, 2014 to common shareholders of record as of March 10, 2014.
As of February 24, 2014, the Company had approximately 239,200 shareholders. The closing price of The Hartford’s common stock on
the NYSE on February 24, 2014 was $34.64.
The Company’s Chief Executive Officer has certified to the NYSE that he is not aware of any violation by the Company of NYSE
corporate governance listing standards, as required by Section 303A.12(a) of the NYSE’s Listed Company Manual.
There are also various legal and regulatory limitations governing the extent to which The Hartford’s insurance subsidiaries may extend
credit, pay dividends or otherwise provide funds to The Hartford Financial Services Group, Inc. as discussed in Part II, Item 7, MD&A
— Capital Resources and Liquidity — Liquidity Requirements and Sources of Capital.
See Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, for
information related to securities authorized for issuance under equity compensation plans.
Purchases of Equity Securities by the Issuer
The following table summarizes the Company’s repurchases of its common stock for the three months ended December 31, 2013:
Period Total Number of Shares Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans or
Programs
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under
the Plans or Programs [1]
(in millions)
October 1, 2013 – October 31, 2013 2,331,663 $ 32.77 2,331,663 $ 766
November 1, 2013 – November 30, 2013 1,787,466 $ 34.69 1,787,466 $ 704
December 1, 2013 – December 31, 2013 2,597,635 $ 34.44 2,435,940 $ 617
Total 6,716,764 $ 33.93 6,555,069
[1] On January 31, 2013 the Company’s Board of Directors authorized a $500 equity repurchase program. On June 26, 2013, the Board of Directors
approved a $750 increase in the Company's authorized equity repurchase program. In January 2014, the Board of Directors approved an
increase in the Company's authorized equity repurchase program by an amount that, when combined with the amount remaining under the
existing authorization, provides the Company with the ability to repurchase $2 billion in equity during the period commencing on January 1,
2014 and ending on December 31, 2015. The Company’s repurchase authorization, permits purchases of common stock, as well as warrants or
other derivative securities. Repurchases may be made in the open market, through derivative, accelerated share repurchase and other privately
negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The
timing of any future repurchases will be dependent upon several factors, including the market price of the Company’s securities, the Company’s
capital position, consideration of the effect of any repurchases on the Company’s financial strength or credit ratings, and other corporate
considerations. The repurchase program may be modified, extended or terminated by the Board of Directors at any time.