Classmates.com 2005 Annual Report Download - page 34

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PART II
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
Our common stock has been quoted on the Nasdaq National Market (“NASDAQ”) under the symbol “UNTD” since September 26, 2001.
Prior to that, NetZero common stock had been quoted on the NASDAQ under the symbol “NZRO” since September 23, 1999. The following
table sets forth, for the quarters indicated, the high and low prices per share of our common stock as reported on the NASDAQ.
On February 28, 2006, there were 864 holders of record of our common stock.
Dividends
In May, August and October of 2005, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 per share of common
stock. The quarterly dividends were paid on May 31, 2005, August 31, 2005 and November 30, 2005 and totaled $12.6 million, $12.7 million
and $12.8 million, respectively.
In February 2006, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 per share of common stock, which was
paid on February 28, 2006 and totaled $12.9 million.
The payment of future dividends is discretionary and will be subject to determination by the Board of Directors each quarter following its
review of the Company’s financial performance. Dividends declared and paid are not a return of profits but rather a distribution of amounts paid
in by the stockholders.
Common Stock Repurchase Program
Our Board of Directors authorized a common stock repurchase program that allows us to repurchase shares of our common stock through
open market or privately negotiated transactions based on prevailing market conditions and other factors. From time to time, the Board of
Directors has increased the amount authorized for repurchase under this program. On April 22, 2004, the Board of Directors authorized us to
purchase up to an additional $100 million of our common stock through May 31, 2005 under the program, bringing the total amount authorized
under the program to $200 million. On April 29, 2005, the Board of Directors extended the program through December 31, 2006. At
December 31, 2005, we had repurchased $139.2 million of our common stock under the program.
33
High
Low
Year Ended December 31, 2004
Quarter ended March 31, 2004
$
20.97
$
14.93
Quarter ended June 30, 2004
20.75
15.76
Quarter ended September 30, 2004
17.47
8.59
Quarter ended December 31, 2004
12.00
9.10
Year Ended December 31, 2005
Quarter ended March 31, 2005
$
11.85
$
9.75
Quarter ended June 30, 2005
13.08
8.51
Quarter ended September 30, 2005
14.05
10.70
Quarter ended December 31, 2005
15.03
12.57
Period from January 1, 2006 through February 28, 2006
$
15.40
$
11.70