Symantec 2016 Annual Report Download - page 114

PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Price Range of Common Stock
Our common stock is traded on the NASDAQ Global Select Market under the symbol “SYMC.” The high
and low closing sales prices set forth below are as reported on the NASDAQ Global Select Market during each
quarter of the two most recent fiscal years. During the fourth quarter of fiscal 2016, we paid a special dividend of
$4.00 per share, resulting in a substantial decline in the sales price of our common stock on March 4, 2016.
2016 2015
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
Fourth
Quarter
Third
Quarter
Second
Quarter
First
Quarter
High $ 20.88 $ 21.37 $ 23.47 $ 25.90 $ 26.69 $ 26.58 $ 24.77 $ 23.04
Low $ 16.62 $ 19.50 $ 19.33 $ 23.03 $ 23.28 $ 21.94 $ 22.42 $ 19.97
Stockholders
As of April 1, 2016, there were 1,849 stockholders of record.
Dividends
During fiscal 2016, 2015 and 2014, we declared and paid aggregate cash dividends of $3.0 billion or $4.60
per common share, $413 million or $0.60 per common share, and $418 million or $0.60 per common share,
respectively. Dividends declared and paid each quarter during fiscal 2016, 2015 and 2014 were $0.15 per share.
Additionally, a special dividend of $4.00 per share was declared and paid in the fourth quarter of fiscal 2016. Our
restricted stock and performance-based stock units have dividend equivalent rights entitling holders to dividend
equivalents to be paid in the form of cash upon vesting, for each share of the underlying units. On May 12, 2016,
we declared a cash dividend of $0.075 per share of common stock to be paid on June 22, 2016, to all
stockholders of record as of the close of business on June 8, 2016. All future dividends and dividend equivalents
are subject to the approval of our Board of Directors.
Repurchases of our equity securities
Through our stock repurchase programs we have repurchased shares on a quarterly basis since the fourth
quarter of fiscal 2004. Under these programs, shares may be repurchased on the open market and through ASR
transactions.
In November 2015, we entered into an ASR transaction with a financial institution to repurchase $500
million of our common stock. In January 2016, the purchase period for this ASR ended and we received an
additional 5.0 million shares of our common stock. The total shares received and retired under the terms of this
ASR transaction were 24.9 million, with an average price paid per share of $20.08.
In March 2016, we entered into multiple ASR transactions with financial institutions to repurchase an
aggregate of $1 billion of our common stock. In exchange for an up-front payment of $1 billion, the financial
institutions committed to deliver shares during the purchase period for these ASRs, which will end in or before
the third quarter of fiscal 2017. During the fourth quarter of fiscal 2016, 42.4 million shares were delivered and
retired under these ASRs, and the final number of shares to be delivered and the average price paid per share will
be determined at the conclusion of the purchase period.
26