2008 Annual Report - Hubbell Wiring Device-Kellems

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PART IIItem 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity SecuritiesThe Company’s Class A and Class B Common Stock is principally traded on the New York Stock Exchange underthe symbols “HUBA” and “HUBB”. The following tables provide information on market prices, dividends declared,number of common shareholders, and repurchases by the Company of shares of its Class A and Class B Common Stock.Market Prices (Dollars Per Share)Common A Common BYears Ended December 31, High Low High Low2008 — Fourth quarter. ....................................... 41.31 28.19 36.64 25.882008 — Third quarter ........................................ 51.65 38.75 44.64 33.572008 — Second quarter ....................................... 53.75 45.92 48.63 39.872008 — First quarter ......................................... 54.00 46.01 50.56 42.402007 — Fourth quarter. ....................................... 61.15 53.95 58.11 50.042007 — Third quarter ........................................ 59.76 54.00 58.15 50.972007 — Second quarter ....................................... 56.67 46.60 57.10 48.252007 — First quarter ......................................... 49.19 43.60 50.11 43.39Dividends Declared (Dollars Per Share)Common A Common BYears Ended December 31, 2008 2007 2008 2007First quarter ................................................... 0.33 0.33 0.33 0.33Second quarter ................................................. 0.35 0.33 0.35 0.33Third quarter .................................................. 0.35 0.33 0.35 0.33Fourth quarter. ................................................. 0.35 0.33 0.35 0.33Number of Common Shareholders of RecordAt December 31, 2008 2007 2006 2005 2004Class A ............................................ 551 571 617 665 717Class B ............................................ 3,055 3,068 3,243 3,319 3,51514
Purchases of Equity SecuritiesIn February 2007, the Board of Directors approved a new stock repurchase program and authorized therepurchase of up to $200 million of the Company’s Class A and Class B Common Stock to be completed over a twoyear period. The February 2007 program was completed in February 2008. In December 2007, the Board ofDirectors approved a new stock repurchase program and authorized the repurchase of up to $200 million of Class Aand Class B Common Stock to be completed over a two year period. This program was implemented uponcompletion of the February 2007 program. Stock repurchases are being completed through open market andprivately negotiated transactions.In August 2007, in connection with the Company’s previously announced stock repurchase program, theCompany established a prearranged repurchase plan (“10b5-1 Plan”) intended to comply with the requirements ofRule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (“the Exchange Act”). Pursuantto the 10b5-1 Plan, a broker appointed by the Company had the authority to repurchase, without further direction fromthe Company, up to 750,000 shares of Class A Common Stock during the period which began on August 3, 2007 andexpired on August 2, 2008, subject to conditions specified in the 10b5-1 Plan. The Company repurchased473,142 shares of Class A Common Stock through the expiration date of this plan.During 2008, the Company repurchased approximately 2.0 million shares of its common stock for $96.6 million.As of December 31, 2008, approximately $160 million remains available under the December 2007 Program.Depending upon market conditions and other factors, including alternative uses of cash, the Company also expects tocontinue to conduct discretionary repurchases in privately negotiated transactions during its normal trading windows.15
Page 1 and 2: P O S I T I O N E D F O R T O D A Y
Page 3 and 4: 2008 SALESby Segmentby GeographyPow
Page 5 and 6: The success of “today” position
Page 7 and 8: POSITIONED FOR TODAYby consistently
Page 9 and 10: POWER SEGMENTBrand recognition and
Page 11 and 12: DRIVINGPERFORMANCETHROUGHPRODUCTIVI
Page 13 and 14: KURT VERSEN INC,ACQUIRED IN JANUARY
Page 15 and 16: 13THE LIGHTING SOLUTIONSLAB AT HUBB
Page 17 and 18: THE FUTURE ISELECTRIC WITHOPPORTUNI
Page 19: OFFSHORE OIL RIGS AREJUST ONE OF MA
Page 23 and 24: HUBBELL INCORPORATEDANNUAL REPORT O
Page 25 and 26: The Company’s annual report on Fo
Page 27 and 28: Commercial/Institutional and Indust
Page 29 and 30: Haefely Test, AG based in Switzerla
Page 31 and 32: A global recession and continued wo
Page 33 and 34: Item 2. PropertiesHubbell’s manuf
Page 35: Name. Age(1) Present Position Busin
Page 39 and 40: Item 6.Selected Financial DataThe f
Page 41 and 42: • Revenue GrowthOrganic Growth. I
Page 43 and 44: the 2007 rate related to the closin
Page 45 and 46: one in 2007 as well as a higher amo
Page 47 and 48: management, production planning and
Page 49 and 50: Although these facilities are not t
Page 51 and 52: offer retiree medical benefits to a
Page 53 and 54: overhead, maintenance and training
Page 55 and 56: • Changes in strategy, economic c
Page 57 and 58: Item 8.Financial Statements and Sup
Page 59 and 60: REPORT OF INDEPENDENT REGISTERED PU
Page 61 and 62: HUBBELL INCORPORATED AND SUBSIDIARI
Page 65 and 66: Foreign Currency TranslationThe ass
Page 67 and 68: measurement attribute for the finan
Page 81 and 82: Note 12 — DebtHUBBELL INCORPORATE
Page 87 and 88:
Note 17 — Capital StockHUBBELL IN
Page 89 and 90:
HUBBELL INCORPORATED AND SUBSIDIARI
Page 91 and 92:
Page 93 and 94:
computation of earnings per dilutiv
Page 95 and 96:
Industry Segment DataHUBBELL INCORP
Page 97 and 98:
Page 99 and 100:
Item 11.Item 12.Executive Compensat
Page 101 and 102:
NumberDescription10h† Hubbell Inc
Page 103 and 104:
NumberDescription31.1* Certificatio
Page 105 and 106:
Schedule IIHUBBELL INCORPORATED AND
Page 107 and 108:
Exhibit 31.1I, Timothy H. Powers, c
Page 109 and 110:
Exhibit 32.1CERTIFICATION PURSUANT
Page 111 and 112:
BOARD OF DIRECTORSE. RICHARD BROOKS
Page 113 and 114:
CORPORATEOFFICERSTIMOTHY H. POWERSC
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