Toro 2008 Annual Report Download - page 29

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PART II
Preferred Stock – 1,000,000 voting shares authorized and
ITEM 5. MARKET FOR REGISTRANT’S
850,000 non-voting shares authorized, $1.00 par value, no shares
COMMON EQUITY, RELATED
outstanding.
STOCKHOLDER MATTERS, AND
ISSUER PURCHASES OF EQUITY
Stockholders – As of December 12, 2008, Toro had approxi-
SECURITIES
mately 4,309 shareholders of record.
The following table sets forth information with respect to shares of
Toro common stock is listed for trading on the New York Stock Toro common stock purchased by the company during each of the
Exchange and trades under the symbol ‘‘TTC.’’ The high, low, and three fiscal months in the period ended October 31, 2008.
last sales prices for Toro common stock and cash dividends paid
for each of the quarterly periods for fiscal 2008 and 2007 were as Total
follows: Number of Maximum
Shares Number of
Fiscal year ended Purchased Shares that
October 31, 2008 First Second Third Fourth as Part of May Yet be
Total Average Publicly Purchased
Market price per share of common
Number of Price Announced Under the
stock –
Shares Paid Per Plans or Plans or
High sales price $59.16 $51.99 $42.20 $46.67
Period Purchased
1
Share Programs Programs
1
Low sales price 40.74 37.92 30.05 27.16
Last sales price 50.93 40.81 33.13 33.64 August 2, 2008 through
Cash dividends per share of August 29, 2008 608,200 $35.99 608,200 2,370,477
common stock
1
0.15 0.15 0.15 0.15 August 30, 2008 through
September 26, 2008 36,033 41.19 36,033 2,334,444
September 27, 2008 through
Fiscal year ended October 31, 2008 13,966
2
30.49 10,196 2,324,248
October 31, 2007 First Second Third Fourth Total 658,199 $36.16 654,429
Market price per share of common
1
On May 21, 2008, the company’s Board of Directors authorized the repurchase of
stock – an additional 4,000,000 shares of the company’s common stock in open-market
High sales price $52.00 $57.11 $63.69 $61.56 or in privately negotiated transactions. This program has no expiration date but
Low sales price 42.06 49.20 51.17 50.73 may be terminated by the company’s Board of Directors at any time.
Last sales price 51.68 51.46 56.47 55.66
2
Includes 3,770 units (shares) of Toro common stock purchased in open-market
Cash dividends per share of common transactions at an average price of $32.27 per share on behalf of a rabbi trust
stock
1
0.12 0.12 0.12 0.12 formed to pay benefit obligations of the company to participants in deferred com-
1
Future cash dividends will depend upon the company’s financial condition, capital pensation plans. These 3,770 shares were not repurchased under the company’s
requirements, results of operations, and other factors deemed relevant by the repurchase program.
Board of Directors.
Common Stock – 100,000,000 shares authorized, $1.00 par
value, 35,484,766 and 37,950,831 shares outstanding as of Octo-
ber 31, 2008 and 2007, respectively.
21