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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 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 12, 2010, there were 552 holders of record of our common stock.
Dividends
United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.20 per share of common stock in February, April, July and
October 2007. The dividends were paid on February 28, May 31, August 31, and November 30, 2007 and totaled $13.7 million, $14.4 million,
$14.4 million, and $14.6 million, respectively.
United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.20 per share of common stock in January, April and July
2008. The dividends were paid on February 29, May 30, and August 29, 2008 and totaled $14.6 million, $14.9 million, and $14.9 million,
respectively. Following the closing of the FTD acquisition, our Board of Directors decreased our quarterly cash dividend from $0.20 per share of
common stock to $0.10 per share of common stock. In October 2008, our Board of Directors declared a quarterly cash dividend of $0.10 per
share of common stock. The dividend was paid on November 28, 2008 and totaled $8.7 million.
United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.10 per share of common stock in January, April, July, and
October 2009. The dividends were paid on February 27, May 29, August 31, and November 30, 2009 and totaled $8.8 million, $9.1 million,
$9.2 million, and $9.1 million, respectively.
In February 2010, United Online Inc.'s Board of Directors declared a quarterly cash dividend of $0.10 per share of common stock. The
record date was February 14, 2010 and the dividend will be paid on February 26, 2010.
The payment of future dividends is discretionary and is subject to determination by United Online, Inc.'s Board of Directors each quarter
following its review of our financial performance and other factors. In addition, our credit agreement with Silicon Valley Bank imposes certain
limitations on our ability to pay dividends. 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
United Online, Inc.'s 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
through December 31,
39
2008
2009
High
Low
High
Low
First Quarter
$
11.91
$
9.55
$
6.39
$
3.76
Second Quarter
$
12.50
$
9.83
$
7.74
$
4.26
Third Quarter
$
12.25
$
9.25
$
9.46
$
5.99
Fourth Quarter
$
9.43
$
5.11
$
9.28
$
6.69