Best Buy 2013 Annual Report Download - page 25

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25
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 2013 (11-month)
First Quarter(1) $ 27.95 $ 20.78
Second Quarter 23.57 16.97
Third Quarter 21.60 14.62
Fourth Quarter 16.41 11.20
Fiscal 2012
First Quarter $ 33.22 $ 28.09
Second Quarter 32.85 23.25
Third Quarter 28.36 21.79
Fourth Quarter 28.53 22.48
(1) The first quarter of fiscal 2013 (11-month) included only two months (March 4, 2012 – May 5, 2012) as a result of the change in our fiscal year-end.
Holders
As of March 21, 2013, there were 3,185 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 the first two quarters of
fiscal 2012 was $0.15 per share. For the remaining two quarters of fiscal 2012, and for the first two quarters of fiscal 2013 (11-
month), our quarterly cash dividend was $0.16 per share. Our quarterly cash dividend for the remaining two quarters of fiscal
2013 (11-month) was $0.17 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 2011, our Board authorized up to $5.0 billion of share repurchases. The program, which became effective on June 21,
2011, replaced a $5.5 billion share repurchase program authorized by our Board in June 2007. There is no expiration date
governing the period over which we can repurchase shares under the June 2011 program. During fiscal 2012, we repurchased
and retired 54.6 million shares at a cost of $1.5 billion. During fiscal 2013 (11-month), we repurchased and retired 6.3 million
shares at a cost of $122 million. At the end of fiscal 2013 (11-month), $4.0 billion of the $5.0 billion of share repurchases
authorized by our Board in June 2011 was available for future share repurchases.
We consider several factors in determining whether to make share repurchases including, among other things, our cash needs,
the availability of funding, our future business plans and the market price of our stock. If we decide to make future share
repurchases, we expect that cash provided by future operating activities, as well as available cash and cash equivalents, will be
the sources of funding for our share repurchase program.
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