The Hartford 2015 Annual Report Download - page 31

31
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.
2015
Common Stock Price
High $ 43.10 $ 42.86 $ 49.53 $ 49.24
Low $ 38.90 $ 40.77 $ 43.03 $ 42.11
Dividends Declared $ 0.18 $ 0.18 $ 0.21 $ 0.21
2014
Common Stock Price
High $ 36.14 $ 36.37 $ 37.80 $ 42.27
Low $ 32.18 $ 33.30 $ 33.85 $ 35.47
Dividends Declared $ 0.15 $ 0.15 $ 0.18 $ 0.18
On February 25, 2016, The Hartford’s Board of Directors declared a quarterly dividend of $0.21 per common share payable
on April 1, 2016 to common shareholders of record as of March 7, 2016. As of February 24, 2016, the Company had approximately
13,471 registered holders of record of the Company's common stock. A substantially greater number of holders of our common stock are
“street name” holders or beneficial holders, whose shares are held of record by banks, brokers and other financial institutions. The
closing price of The Hartford’s common stock on the NYSE on February 24, 2016 was $41.90.
On June 15, 2015, the Company’s Chief Executive Officer 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.
For information related to securities authorized for issuance under equity compensation plans, see Part III, Item 12, Security Ownership
of Certain Beneficial Owners and Management and Related Stockholder Matters,
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, 2015:
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, 2015 – October 31, 2015 2,837,050 $ 46.92 2,837,050 $ 1,647
November 1, 2015 – November 30, 2015 3,286,572 $ 46.23 3,286,572 $ 1,495
December 1, 2015 – December 31, 2015 3,682,862 $ 44.81 3,682,862 $ 1,330
Total 9,806,484 $ 45.90 9,806,484
[1] In July 2015, the Board of Directors approved an increase in the Company's authorized equity repurchase program that provides the Company
with the ability to repurchase $4.375 billion in equity during the period commencing on January 1, 2014 and ending on December 31, 2016. 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.