DIRECTV 2006 Annual Report Download - page 44
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THE DIRECTV GROUP, INC.
PART II
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Common Stock Price
Our common stock is publicly traded on the NYSE under the symbol ‘‘DTV.’’ The following table
sets forth for the quarters indicated the high and low sales prices for our common stock, as reported on
the NYSE Composite Tape.
2006 High Low
Fourth Quarter ...................................... $25.57 $19.50
Third Quarter ....................................... 19.98 16.32
Second Quarter ...................................... 18.04 15.88
First Quarter ........................................ 16.40 13.28
2005 High Low
Fourth Quarter ...................................... $15.07 $13.17
Third Quarter ....................................... 16.79 14.48
Second Quarter ...................................... 15.91 13.88
First Quarter ........................................ 17.01 14.21
As of the close of business on February 23, 2007, there were approximately 79,689 holders of
record of our common stock.
Dividend Rights and Other Stockholder Matters
Holders of our common stock are entitled to such dividends and other distributions in cash, stock
or property as may be declared by our Board of Directors in its sole discretion, subject to the
preferential and other dividend rights of any outstanding series of our preferred stock. There were no
shares of our preferred stock outstanding at December 31, 2006.
Except for a $275 million special cash dividend paid to General Motors, or GM, in connection
with our split-off from GM in 2003, no dividends on our common stock have been declared by our
Board of Directors for more than five years. We have no current plans to pay any dividends on our
common stock. We currently expect to retain our future earnings, if any, for the development of our
businesses or other corporate purposes.
DIRECTV U.S. is subject to restrictive covenants under its credit facility. These covenants limit
the ability of DIRECTV U.S. to, among other things, make restricted payments, including dividends,
loans or advances to us.
Information regarding compensation plans under which our equity securities may be issued is
included in Item 12 through incorporation by reference to our Proxy Statement for the Annual Meeting
of Stockholders scheduled to be held on June 5, 2007.
Share Repurchase Program
On February 7, 2006, our Board of Directors authorized a share repurchase program that was
implemented on February 10, 2006 and completed in February 2007. Under the repurchase program,
we were authorized to spend up to $3.0 billion to repurchase outstanding shares of our common stock.
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