PART II
ITEM 5.
MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED
STOCKHOLDER MATTERS
The Company's Common Stock is traded on the American Stock Exchange (symbol: LVC). The
following table sets forth the high and low sale prices for each quarterly period for the two most
recent fiscal years. The stock prices are rounded to the nearest cent.
Quarter Ended
High
Low
May 27, 2000
$10.63
$9.13
August 26, 2000
11.13
9.75
November 25, 2000
11.25
8.63
February 24, 2001
9.32
6.25
May 26, 2001
8.75
5.60
August 25, 2001
9.10
7.01
November 24, 2001
9.10
7.06
February 23, 2002
7.75
6.52
As of May 16, 2002, there were 364 registered holders of the Company's Common Stock.
The Company paid 41 consecutive quarterly cash dividends on its common stock since an initial
quarterly dividend of five cents ($.05) per share was paid in May of 1992. The quarterly dividend
was increased to seven cents ($.07) per share payable September 1, 1994, and to eight cents
($.08) per share in March 1998. Subsequently, the dividend was reduced to four cents ($.04) per
share payable on March 1, 2002. At its February 28, 2002 meeting, the Board of Directors voted
to discontinue the regular quarterly cash dividend effective after the payment of the March 1,
2002 dividend to conserve cash for reinvestment in the business. The Company will evaluate its
dividend policy on an ongoing basis.
On October 10, 1995, the Board of Directors authorized the Company to repurchase up to
1 million shares of its common stock in the open market from time to time, subject to market
conditions. As of September 3, 1998, the Company completed the one million share repurchase
program. On October 7, 1998, the Board of Directors approved a new stock repurchase
program, which authorized the Company to repurchase up to an additional one million shares
of its common stock in the open market from time to time, subject to market conditions. On
September 28, 1999, the Board of Directors authorized the Company to repurchase an additional
500,000 shares of its common stock. As of May 17, 2002, the Company had repurchased
1,178,442 shares, at a total cost of approximately $11.4 million under the current stock
repurchase program. The Company uses these shares to make matching contributions to its
Profit Sharing/401(k) Plan and to issue shares under its Stock Option and Employee Stock
Purchase Plans.
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L I L L I A N V E R N O N
