Costco 1999 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 1999 Costco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 40

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40

34
MARKET FOR COSTCO COMMON STOCK
Trading in Costco Common Stock commenced on October 22, 1993, as Price/Costco, Inc., quoted on
The Nasdaq Stock Market’s National Market under the symbol ‘‘PCCW’’. Since January 29, 1997,
following a name change to Costco Companies, Inc. (and a subsequent re-incorporation and name change
to Costco Wholesale Corporation in August 1999), the stock has been quoted on The Nasdaq Stock
Market’s National Market under the symbol ‘‘COST.’’
The following table sets forth the closing high and low sales prices of Costco Common Stock for the
period January 1, 1997 through November 30, 1999. The quotations are as reported in published financial
sources.
Costco Common
Stock
High Low
Calendar Quarters—1997
First Quarter .................................... 30 24
1⁄8
Second Quarter .................................. 35
3⁄16 267⁄8
Third Quarter ................................... 39
1⁄8317⁄16
Fourth Quarter .................................. 44
15⁄16 351⁄8
Calendar Quarters—1998
First Quarter .................................... 58
3⁄16 421⁄8
Second Quarter .................................. 63
7⁄32 513⁄8
Third Quarter ................................... 65 45
1⁄16
Fourth Quarter .................................. 74
7⁄8445⁄16
Calendar Quarters—1999
First Quarter .................................... 91
13⁄16 711⁄4
Second Quarter .................................. 92
1⁄2711⁄8
Third Quarter ................................... 86
9⁄16 661⁄8
Fourth Quarter (through November 30, 1999) ............ 92
3⁄472
On November 30, 1999, the Company had 7,575 stockholders of record.
DIVIDEND POLICY
Costco does not pay regular dividends and presently has no plans to declare a cash dividend. Under its
two revolving credit agreements, Costco is generally permitted to pay dividends in any fiscal year up to an
amount equal to 50% of its consolidated net income for that fiscal year.