Comfort Inn 2014 Annual Report Download - page 34

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Table of Contents
 
The Company is not a party to any litigation other than litigation in the ordinary course of business. The Company's management and legal counsel do
not expect that the ultimate outcome of any of its currently ongoing legal proceedings, individually or collectively, will have a material adverse effect on the
Company's financial position, results of operations, or cash flows.
 
None

 
The shares of the Company’s common stock are listed and traded on the New York Stock Exchange. The following table sets forth information on the
high and low sales prices of the Company’s common stock and cash dividends declared per share for each quarterly period for the two most recently
completed years.




 


March 31, $ 42.32
$ 34.00
$ 0.185
June 30, $ 45.96
$ 38.30
$ 0.185
September 30, $ 44.04
$ 37.94
$ 0.185
December 31, $ 49.79
$ 39.71
$ 0.185

March 31, $ 50.37
$ 44.06
$ 0.185
June 30, $ 47.26
$ 43.42
$ 0.185
September 30, $ 54.83
$ 46.29
$ 0.185
December 31, $ 57.90
$ 47.39
$ 0.195
The Company currently maintains the payment of a quarterly dividend on its common shares outstanding, however, the declaration of future dividends
are subject to the discretion of the board of directors. We expect that regular quarterly cash dividends will continue to be paid at a comparable rate in the
future, subject to future business performance, economic conditions and changes in the current income tax regulations. In addition, the Company may not
make dividend payments if there is an existing event of default under its senior secured credit facility or if the payment would create an event of default.
Furthermore, if the Company's total leverage, as defined in the Company's senior secured credit facility, exceeds 4.50 to 1, the Company is generally
restricted from paying aggregate dividends in excess of $50 million during any calendar year.
As of February 17, 2015, there were 1,430 holders of record of the Company’s common stock.
34