text: Our decentralized structure is an advantage. It gives us flexibility and speed in reacting to local 
  
  conditions. Our division leaders are well-positioned to respond immediately to the needs, changes 
  
  and developments among their customers. We in the corporate office set the goals, establish the 
  
  discipline, provide financial resources, management and operational support, but it is in our local 
  
  divisions where customer relationships are established and the work is done. Our community-based 
  
  focus forges strong local relationships and ensures that, at the customer level, the highest expectations 
  
  are exceeded. 
  
  Ultimately, all the things we do as a Company are aimed at increasing value for our shareholders. We 
  
  know the importance of strong and predictable cash flow in meeting our shareholders’ expectations. 
  
  Over time, our cash flow has proven to be a strong indicator of the quality of our earnings. Last year’s 
  
  record free cash flow enabled us to reinvest in our business, acquire new companies, repurchase $266 
  
  million of our common stock and double the quarterly dividend to $0.12 per share. The plan this year 
  
  is similar. We will continue to use our strong free cash flow to grow and strengthen the Company by 
  
  building our customer base through internal growth and strategic acquisitions. Additionally, we plan 
  
  to repurchase Republic stock worth up to $275 million and pay a regular quarterly cash dividend to 
  
  our shareholders. We believe these steps will increase shareholder value. 