Classmates.com 2008 Annual Report Download - page 39

Table of Contents
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 Global Select 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 sales prices per share of our common stock as reported on the NASDAQ.
On February 13, 2009, there were 738 holders of record of our common stock.
Dividends
Our Board of Directors declared quarterly cash dividends of $0.20 per share of our common stock in February 2007, April 2007, July 2007,
and October 2007. The dividends were paid on February 28, 2007, May 31, 2007, August 31, 2007, and November 30, 2007 and totaled
$13.7 million, $14.4 million, $14.4 million, and $14.6 million, respectively.
Our Board of Directors declared quarterly cash dividends of $0.20 per share of common stock in January 2008, April 2008, and July 2008.
The dividends were paid on February 29, 2008, May 30, 2008, and August 29, 2008 and totaled $14.6 million, $14.9 million, and $14.9 million
respectively. In October 2008, our Board of Directors declared a quarterly cash dividend of $0.10 per share of our common stock. The dividend
was paid on November 28, 2008 and totaled $8.7 million.
In January 2009, our Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock. The record date for the
dividend is February 13, 2009. The dividend was paid on February 27, 2009 and totaled $8.8 million.
The payment of future dividends is discretionary and is subject to determination by our Board of Directors each quarter following its review
of our financial performance and other factors. Dividends are declared and paid out of our surplus, as defined and computed in accordance with
the General Corporation Law of the State of Delaware.
Common Stock Repurchases
In May 2001, our Board of Directors authorized a common stock repurchase program (the "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, our Board of Directors has increased the amount authorized for repurchase under this program and has extended the program. In April
2004, our Board of Directors authorized us to purchase up to an additional $100 million of our common stock under the program, bringing the
total amount authorized under the program to $200 million. In January 2009, our Board of Directors again further extended the program through
December 31, 2009. At December 31, 2008, we had repurchased $139.2 million of our common stock under the program, leaving $60.8 million
of authorization remaining under the program.
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2007
2008
High
Low
High
Low
First Quarter
$
14.68
$
12.55
$
11.91
$
9.55
Second Quarter
$
17.46
$
13.77
$
12.50
$
9.83
Third Quarter
$
17.27
$
10.85
$
12.25
$
9.25
Fourth Quarter
$
17.97
$
11.03
$
9.43
$
5.11