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Common stock repurchases in the fourth
quarter of fiscal year2006 were as follows:
Quarter Ended
Sep. 30
Dec. 31
Mar. 31
June 30
Year
Fiscal year 2005
Common stock price per share:
High
$29.00 $29.98
$26.84
$26.07
$29.98
Low
26.88 26.53
23.92
24.12
23.92
Fiscal year 2006
Common stock price per share:
High
$27.76 $28.16
$28.15
$27.74
$28.16
Low
24.65 24.30
26.28
21.51
21.51
See Note 12 – Stockholders’ Equity of the Notes to Financial Statements for information regarding dividends approved by our Board of Directors in fiscal years 2006 and 2005.
On July 20, 2006, we announced that our Board of Directors authorized two new share repurchase programs: a $20 billion tender offer which was completed on August 17, 2006; and authorization for up to an additional $20 billion ongoing share repurchase program with an expiration of June 30, 2011. Under the tender offer, we repurchased approximately 155 million shares of common stock, or 1.5% of our common shares outstanding, for approximately $3.8 billion at a price per share of $24.75.
On August 18, 2006, we announced that the authorization for the ongoing share repurchase program, previously announced on July 20, 2006, had been increased by approximately $16.2 billion. As a result, the company is authorized to repurchase additional shares in an amount up to $36.2 billion through June 30, 2011.