AIG 2011 Annual Report Download - page 58

Part II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
AIG’s common stock, par value $2.50 per share (AIG Common Stock), is listed on the New York Stock
Exchange, as well as on the Tokyo Stock Exchange. The approximate number of record holders of AIG Common
Stock as of January 31, 2012 was 44,938.
The following table presents the high and low closing sale prices on the New York Stock Exchange Composite
Tape and the dividends paid per share of AIG Common Stock for each quarter of 2011 and 2010.
2011 2010
Dividends Dividends
High Low Paid High Low Paid
First quarter $ 61.18* $ 34.95 $ - $ 36.24 $ 22.16 $ -
Second quarter 35.00 27.23 - 44.51 34.05 -
Third quarter 30.21 21.61 - 41.64 33.10 -
Fourth quarter 26.34 20.07 - 59.38 38.86 -
* Includes the effect of the AIG Common Stock trading with due bills for the dividend paid in the form of warrants.
Pursuant to the terms of the AIG Series G Cumulative Mandatory Convertible Preferred Stock, par value $5.00
per share (the Series G Preferred Stock) AIG was unable to pay dividends while the Series G Preferred Stock was
outstanding. The Series G Preferred Stock was cancelled in connection with AIG’s public offering of AIG
Common Stock in May 2011. After the cancellation of the Series G Preferred Stock, there are no contractual
restrictions on AIG’s ability to pay dividends.
Any payment of dividends will need the approval of AIG’s Board of Directors, in its discretion, from funds
legally available therefor. AIG’s Board of Directors may consider AIG’s financial position, the performance of its
businesses, its consolidated financial condition, results of operations and liquidity, available capital, the existence
of investment opportunities and other factors in determining the payment of dividends, if any. AIG may become
subject to restrictions on the payment of dividends if it is designated as a non-bank SIFI or considered a savings
and loan holding company. See Item 1. Business — Regulation for further discussion of this potential regulation.
In addition, AIG was previously unable to pay dividends under the terms of other series of AIG preferred stock
that were outstanding from November 2008 through January 14, 2011.
For a discussion of certain restrictions on the payment of dividends to AIG by some of its insurance
subsidiaries, see Item 1A. Risk Factors — Liquidity — AIG Parent’s ability to access funds from our subsidiaries
is limited, and Note 17 to the Consolidated Financial Statements.
In November 2011, AIG’s Board of Directors authorized the repurchase of shares of AIG Common Stock with
an aggregate purchase amount of up to $1 billion from time to time in the open market, through derivative or
automatic purchase contracts or otherwise. The timing of such purchases will depend on market conditions, AIG’s
financial condition, results of operations, liquidity, rating agency considerations and other factors. This
authorization replaces all prior AIG Common Stock repurchase authorizations.
44 AIG 2011 Form 10-K
REPURCHASES OF EQUITY SECURITIES