Vistaprint 2011 Annual Report Download - page 39
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Dividends
We have never paid or declared any cash dividends on our ordinary shares, and we do not
anticipate paying any cash dividends in the foreseeable future. We currently intend to retain all future
earnings for use in the operation of our business or the repurchase of our shares.
Issuer Purchases of Equity Securities
On November 9, 2010, we announced that our Supervisory Board had authorized a repurchase
of up to an aggregate of $160.0 million of our ordinary shares in open market or privately negotiated
transactions subject to the purchase parameters set by our shareholders and Supervisory Board
including a limit that the repurchases cannot exceed 10% of our issued and outstanding ordinary
shares as of November 4, 2010, the date of our Annual General Meeting of Shareholders. We
established a share repurchase plan pursuant to SEC Rule 10b5-1 upon authorization of the program
to set the manner, timing, price and volume conditions.
During fiscal 2011 we purchased 1,326,933 of our ordinary shares for a cost of $56.9 million;
however, there were no purchases during the three months ended June 30, 2011. Additionally, we
have purchased 3,074,832 of our ordinary shares subsequent to June 30, 2011 and through
August 12, 2011 for a cost of $91.1 million bringing the total ordinary shares repurchased under the
plan to 4,401,765 for a total cost of $148.0 million. There is no amount remaining available for future
purchases under this program as we have reached the limit of 10% of our issued and outstanding
ordinary shares.
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