Sysco 2015 Annual Report Download - page 21
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PARTII
ITEM5 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.
Common Stock Prices Dividends
Declared
PerShareHigh Low
Fiscal 2014:
First Quarter $ 36.05 $ 31.37 $ 0.28
Second Quarter 43.40 31.13 0.29
Third Quarter 37.08 34.07 0.29
Fourth Quarter 37.92 35.31 0.29
Fiscal 2015:
First Quarter $ 38.85 $ 35.50 $ 0.29
Second Quarter 41.16 35.82 0.30
Third Quarter 41.45 37.81 0.30
Fourth Quarter 38.99 35.84 0.30
The number of record owners of Sysco’s common stock as of August 13, 2015 was 10,877.
We made the following share repurchases during the fourth quarter of scal 2015:
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 29 – April 25 5,168 $ 38.16 - 11,655,197
Month #2
April 26 – May 23 805 36.61 - 11,655,197
Month #3
May 24 – June 27 2,012 37.58 - 11,655,197
TOTAL 7,985 $ 37.86 - 11,655,197
(1) The shares purchased in all 3 months represented shares tendered by individuals in connection with stock option exercises.
The remaining authorization to purchase 11,655,197 shares from the repurchase program, included in the table above, expired on August 23, 2015. In
June 2015, our Board of Directors approved a repurchase program to repurchase from time to time in the open market, through an accelerated share
repurchase program or through privately negotiated transactions, shares of the company’s common stock in an amount not to exceed $3.0 billion during
the two year period ending July 1, 2017, including $1.5 billion through a planned accelerated share repurchase in scal 2016, in addition to amounts
normally repurchased to offset bene t plan and stock option dilution. In addition to this share repurchase program approved in June, in August 2015, our
Board of Directors approved the repurchase of up to 20,000,000 shares for an aggregate purchase price not to exceed $800 million. The authorization
expires on August 21, 2017. 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.
The Board of Directors has 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 Securities Exchange Act of
1934 (Exchange Act).