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Uses of Cash Survey
Thank you for taking your time to complete this survey. It contains 22 questions, which should take only a few minutes to complete. Your responses will be strictly confidential.

Read each question thoroughly and select the most appropriate option. Answer each question in accordance with the actual practices of your business/corporation. There are no right or wrong answers. Please do not leave any question unanswered.

Financial Forecast Planning
1.  How far in advance do you update your business plan and pro-forma financial statements?
Current Fiscal Year Only
1 Year after Current Fiscal Year
Greater than 1 year after Current Fiscal Year
N/A
2.  How far in advance do you plan various cash expenditures? For each of the following five uses of cash, select the length of time in advance you plan each activity.
   Current Fiscal Year Only   1 Year after Current Fiscal Year   Greater than 1 Year after Current Fiscal Year   N/A 
Dividend Payouts 
Stock Buybacks 
Research and Development Expenditures 
Capital Expenditures 
Mergers and Acquisitions 
Relative Importance of Effects on Stock Price for Specific Cash Expenditures
3.  Rank the following 5 uses of cash in order of importance to you and your company as they relate to driving stock price over the SHORT-TERM (within one year from now).
(1 indicating greatest importance, 5 indicating least importance)
   * Ranking 
Dividend Payouts 
Stock Buybacks 
Research and Development Expenditures 
Capital Expenditures 
Merger and Acuisition 
4.  Rank the following 5 uses of cash in order of importance to you and your company as they relate to driving stock price over the LONG-TERM (greater than one year from now).
(1 indicating greatest importance, 5 indicating least importance)
   *Ranking 
Dividend Payouts 
Stock Buybacks 
Research and Development Expenditures 
Capital Expenditures 
Merger and Acquisition Activities 
5.  Read the following list of factors. Select the level of influence/importance your company places on each item when making decisions regarding cash expenditures.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Effect on Current year EPS 
Effect on Subsequent years EPS 
Effect on Cash Flow 
Effect on Balance sheet quality 
6.  Read the following list of investment criteria. Select the level of influence/importance your company places on each item when evaluating the financial success or failure of a project.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Net present Value 
Payback in years 
Internal rate of return (IRR) 
Consideration When Making Decisions Regarding Cash Allocation
7.  Read the following list of factors. Indicate how important each of these factors is in your decision making DIVIDEND POLICY.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Potentially limiting funding of other projects 
How industry peer's dividend policy compares to ours 
Projecting an image of continuous growth 
8.  Read the following list of factors. Indicate how important each of these factors is in making TREASURY STOCK BUYBACK decisions.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Potentially limiting funding of other projects 
Enhancing earnings per share 
Supporting Out Stock Price 
9.  Read the following list of factors. Indicate how important each of these factors is in making CAPITAL EXPENDITURE decisions.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Replacing fully depreciated assets 
Expanding capacity 
Providing an alternative means to make the business more efficient 
10.  Read the following list of factors. Indicate how important each of these factors is when making financial commitments to PRODUCT RESEARCH and DEVELOPMENT.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Replacing intellectual property with expiring patent lives 
Supporting current product life and/or new marketing programs 
Attempting to develop "breakthrough" technology 
11.  Read the following list of factors. Indicate how important each of these factors is in making financial commitments to ACQUIRE ANOTHER COMPANY.
   Critical   Very Important   Important   Slightly Important   Not Important   N/A 
Eliminating a competitor 
Securing additional production capacity 
Extending territories or brand name 
Investing opportunity for excess cash on balance sheet 
Company Profile
12.  In what industry does your company primarily operate?
Please select the option that best describes your company.
Energy
Materials
Industrial
Consumer Discrentionary
Health Care
Financials
Information Technology
Telecommunication Services
Utilities
Other
13.  What was your company's sales revenue for the fiscal year just completed?
$5 Billion or greater
$1 - $4.9 Billion
$500 - $999 Million
$100 - $499 Million
Less than $100 Million
14.  What is the current market capitalization of your company?
Greater than $10 Billion
$2 - $10 Billion
Less than $2 Billion
N/A (private)
15.  From a balance sheet perspective, which of the following do you feel best describes your company?
Leveraged
Average
Highly Liquid
Investment Style
16.  In your OPINION, which of the following best describes your company?
(Please select one.)
Value Stock
Growth Stock
17.  If your company has consistently paid dividends since 2002, how have they been distributed?
Cash
Stock
Both Cash and Stock
Did not pay Dividends on a Continual Basis
18.  What percent of your company's outstanding shares have been repurchased since 2002 (not just announcements)?
Greater than 10%
5% - 10%
Less than 5%
None
19.  Of the following methods, how have buybacks been completed?
(Select all that apply.)
Open Market Purchase
Dutch Tender Offer
Fixed Price Tender Offer
Negotiated Trades
20.  What is the position held by the individual completing this survey?
(Please select one.)
President/CEO/COO
CFO/Treasurer/Controller
Member of Financial Staff
Investor Relations
Other
Other
21.  Would you like to recieve a summary of results when the study is complete?
Yes
No
22.  If yes, please provide the email address indicating where you would like the results sent.