Best Buy 2011 Annual Report Download - page 29

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities.
Market Information
Our common stock is traded on the New York Stock Exchange under the ticker symbol BBY. The table below sets forth the
high and low sales prices of our common stock as reported on the New York Stock Exchange — Composite Index during
the periods indicated.
Sales Price
High Low
Fiscal 2011
First Quarter $48.83 $36.28
Second Quarter 42.65 30.90
Third Quarter 45.63 31.32
Fourth Quarter 44.62 32.00
Fiscal 2010
First Quarter $42.06 $23.97
Second Quarter 39.98 31.25
Third Quarter 44.32 35.66
Fourth Quarter 45.55 35.01
Holders
As of April 20, 2011, there were 3,305 holders of record of our common stock.
Dividends
In fiscal 2004, our Board initiated the payment of a regular quarterly cash dividend with respect to shares of our common
stock. A quarterly cash dividend has been paid in each subsequent quarter. Our quarterly cash dividend for all of fiscal
2010 and for the first two quarters of fiscal 2011 was $0.14 per share, and for the last two quarters of fiscal 2011 was
$0.15 per share. The payment of cash dividends is subject to customary legal and contractual restrictions.
Future dividend payments will depend on our earnings, capital requirements, financial condition and other factors
considered relevant by our Board.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
From time to time, we repurchase our common stock in the open market pursuant to programs approved by our Board.
We may repurchase our common stock for a variety of reasons, such as acquiring shares to offset dilution related to
equity-based incentives, including stock options and our employee stock purchase plan, and optimizing our capital
structure.
In June 2007, our Board authorized up to $5.5 billion of share repurchases. The program, which became effective on
June 26, 2007, terminated and replaced a $1.5 billion share repurchase program authorized by our Board in June 2006.
There is no expiration date governing the period over which we can repurchase shares under the June 2007 program. We
made no share repurchases in fiscal 2010. During fiscal 2011, we repurchased and retired 32.6 million shares at a cost
of $1.2 billion. At the end of fiscal 2011, $1.3 billion of the $5.5 billion share repurchases authorized by our Board in
June 2007 was available for future share repurchases.
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