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PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock has traded publicly under the symbol “CCMP” since our initial public offering in April 2000, currently on the NASDAQ Global Select Market, and formerly the NASDAQ National Market. The following table sets forth the range of quarterly high and low closing sales prices for our common stock.
High Fiscal 2011 First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2012 First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2013 First Quarter (through October 31, 2012) $42.80 52.25 51.88 48.21 $48.39 52.50 39.82 35.93 $35.09 Low $32.22 40.80 43.18 34.39 $33.09 33.89 28.11 28.14 $29.17
As of October 31, 2012, there were approximately 929 holders of record of our common stock. In December 2011, we announced a new capital management initiative for our Company, which included a leveraged recapitalization with a special cash dividend of $15 per share and an increase in the amount available under our share repurchase program. On February 13, 2012, our Board of Directors declared the special cash dividend of $15 per share, or $347.1 million in aggregate, to the Company’s
stockholders with a dividend payment date of March 1, 2012. The low price of our common stock shown above for the second quarter of fiscal 2012, as well as the high and low prices shown for the third and fourth quarters of fiscal 2012, reflect the period after the payment of the special cash dividend. No dividends were declared or paid in fiscal 2011 or prior to the special cash dividend, and we have no current plans to pay cash dividends in the future.
Issuer Purchases of Equity Securities
Total Number of Shares Purchased 20 241,000 67,645 308,665 Average Price Paid Per Share $28.76 $31.87 $34.30 $32.40
Period Jul. 1 through Jul. 31, 2012 Aug. 1 through Aug. 31, 2012 Sep. 1 through Sep. 30, 2012 Total
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs — 241,000 67,645 308,645
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in thousands) $140,000 $132,319 $130,000 $130,000
In November 2010, our Board of Directors authorized a share repurchase program for up to $125.0 million of our outstanding common stock, which became effective on the authorization date. As of December 13, 2011, we had $82.9 million remaining under this share repurchase program. In conjunction with our new capital management initiative, on December 13, 2011, our Board of Directors authorized an increase in the amount available under our share repurchase program to $150.0 million. We repurchased 929,407 shares for $33.0 million in fiscal 2012 under this program. Share repurchases are made from time to time, depending on market conditions, in open market transactions, at management’s discretion. To date, we have funded share purchases under our share repurchase program from our available cash balance, and anticipate we will continue to do so.
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Separate from this share repurchase program, a total of 37,304 shares were purchased during fiscal 2012 pursuant to the terms of our Second Amended and Restated Cabot Microelectronics Corporation 2000 Equity Incentive Plan (EIP) and our 2012 Omnibus Incentive Plan (OIP) as shares withheld from award recipients to cover payroll taxes on the vesting of shares of restricted stock granted under the EIP and OIP.
Equity Compensation Plan Information
See Part II, Item 12 of this Form 10-K for information regarding shares of common stock that may be issued under the Company’s existing equity compensation plans.
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