Costco 2004 Annual Report Download - page 11

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MARKET FOR COSTCO COMMON STOCK
Costco Common Stock is 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, 2002 through December 3, 2004. The quotations are as reported in published financial sources.
Costco Common
Stock
High Low
Calendar Quarters—2002
First Quarter ............................................. $46.32 $38.92
Second Quarter ........................................... 43.00 37.59
Third Quarter ............................................. 39.30 31.85
Fourth Quarter ............................................ 36.21 27.24
Calendar Quarters—2003
First Quarter ............................................. 31.23 28.08
Second Quarter ........................................... 37.43 30.41
Third Quarter ............................................. 37.15 28.89
Fourth Quarter ............................................ 37.29 31.94
Calendar Quarters—2004
First Quarter ............................................. 39.94 36.08
Second Quarter ........................................... 42.89 35.54
Third Quarter ............................................. 42.42 39.74
Fourth Quarter (through December 3, 2004) .................... 49.74 42.29
On December 3, 2004, the Company had 7,797 stockholders of record.
Participants in the Company’s 401(k) plan have purchased more shares of the Company’s common stock in
their plan accounts than were registered with the Securities and Exchange Commission. The Company received
no proceeds from any of these sales. Upon receipt of regulatory approvals, the Company presently intends to
make a rescission offer to plan participants who purchased the Company’s common stock in 401(k) plan ac-
counts during the preceding twelve months. The Company does not believe that the rescission offer will materi-
ally impact its consolidated results of operations, financial position or cash flows.
DIVIDEND POLICY
Under its two revolving credit agreements, Costco is generally permitted to pay dividends in any fiscal year
up to an amount equal to fifty percent of its consolidated net income for that fiscal year. On April 28, 2004,
Costco declared its first quarterly cash dividend. The first dividend of $0.10 per share was paid May 31, 2004, to
shareholders of record at the close of business on May 10, 2004 and a second dividend of $0.10 per share was
paid August 27, 2004 to shareholders of record at the close of business on July 23, 2004. Subsequent to fiscal
year end a dividend of $0.10 per share was paid November 26, 2004, to shareholders of record at the close of
business on November 5, 2004.
Payment of future dividends is subject to declaration by the Board of Directors. Factors considered in de-
termining the size of the dividends are profitability and expected capital needs of the Company. Subject to qual-
ifications stated above, the Company presently expects to pay dividends on a quarterly basis.
EQUITY COMPENSATION PLANS
Information related to the Company’s equity compensation plans is incorporated herein by reference to the
Proxy Statement. The Proxy Statement will be filed with the Securities and Exchange Commission within 120
days of the end of the Company’s fiscal year.
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