Sysco 2008 Annual Report Download - page 33

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Facilities in Victoria, British Columbia; Chicago, Illinois; Portland, Oregon; Pittsburgh, Pennsylvania; and Houston, Texas (which in the
aggregate accounted for approximately 5.3% of fiscal 2008 sales) are operating near capacity and we are currently constructing expansions
or replacements for these distribution facilities.
As of June 28, 2008, our fleet of approximately 9,100 delivery vehicles consisted of tractor and trailer combinations, vans and panel
trucks, most of which are either wholly or partially refrigerated for the transportation of frozen or perishable foods. We own approximately
87% of these vehicles and lease the remainder.
Item 3. Legal Proceedings
We are engaged in various legal proceedings which have arisen in the normal course of business but have not been fully adjudicated.
These proceedings, in our opinion, will not have a material adverse effect upon our consolidated financial position or results of operations
when ultimately concluded.
Item 4. Submission of Matters to a Vote of Security Holders
None.
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Repurchases of Equity Securities
The principal market for SYSCO’s common stock (SYY) is the New York Stock Exchange. The table below sets forth the high and low
sales prices per share for our common stock as reported on the New York Stock Exchange Composite Tape and the cash dividends declared
for the periods indicated.
High Low
Dividends
Declared
Per Share
Common Stock Prices
Fiscal 2007:
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 34.15 $ 26.50 $ 0.17
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.04 32.35 0.19
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.74 31.34 0.19
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34.95 31.64 0.19
Fiscal 2008:
First Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 35.67 $ 30.05 $ 0.19
Second Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.90 30.93 0.22
Third Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.65 26.45 0.22
Fourth Quarter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.84 27.65 0.22
The number of record owners of SYSCO’s common stock as of August 13, 2008 was 12,961.
We made the following share repurchases during the fourth quarter of fiscal 2008:
ISSUER PURCHASES OF EQUITY SECURITIES
Period
(a) Total Number
of Shares Purchased(1)
(b) Average Price
Paid Per Share
(c) Total Number
of Shares
Purchased
as Part of
Publicly Announced
Plans or Programs
(d) Maximum Number
of Shares That May Yet
be Purchased Under
the Plans or Programs
Month #1
March 30 — April 26 . . . . . . . . . — $ — — 6,337,800
Month #2
April 27 — May 24. . . . . . . . . . . 17,042 31.12 — 6,337,800
Month #3
May 25 — June 28 . . . . . . . . . . 22,010 31.51 — 6,337,800
Total . . . . . . . . . . . . . . . . . . . . . . 39,052 $ 31.34 — 6,337,800
(1) The total number of shares purchased includes zero, 17,042 and 22,010 shares tendered by individuals in connection with stock option exercises
in Month #1, Month #2 and Month #3, respectively.
On November 10, 2005, we announced that the Board of Directors approved the repurchase of 20,000,000 shares. Pursuant to the
repurchase program, shares may be acquired in the open market or in privately negotiated transactions at the company’s discretion, subject
to market conditions and other factors.
In July 2004, the Board of Directors authorized us to enter into agreements from time to time to extend our ongoing repurchase
program to include repurchases during company announced “blackout periods” of such securities in compliance with Rule 10b5-1
promulgated under the Exchange Act.
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