DIRECTV 2009 Annual Report Download - page 52

DIRECTV
PART II
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Common Stock Price
Our Class A common stock is publicly traded on The NASDAQ Global Select Market under the
symbol ‘‘DTV.’’ The following table sets forth for the quarters indicated the high and low sales prices
for our Class A common stock, as reported on the NASDAQ Global Select Market. From January 1,
2008 through November 18, 2009, the stock that traded was the common stock of The DIRECTV
Group, Inc. On November 19, 2009, we completed our merger with Liberty Entertainment Inc., and
from that date, the stock traded on the NASDAQ is the Class A common stock of DIRECTV.
2009 High Low
Fourth Quarter ...................................... $34.25 $25.16
Third Quarter ....................................... 27.99 22.81
Second Quarter ...................................... 26.00 21.47
First Quarter ........................................ 24.28 18.81
2008 High Low
Fourth Quarter ...................................... $26.52 $17.70
Third Quarter ....................................... 28.83 23.65
Second Quarter ...................................... 29.10 24.26
First Quarter ........................................ 26.82 18.20
As of the close of business on February 22, 2010, there were 70,617 holders of record of our
Class A common stock. Our Class B common stock held by the Malones is not registered and does not
trade on any public market.
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, 2009.
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 either class of our common stock. We
currently expect to use our future earnings, if any, for the development of our businesses or other
corporate purposes, including share repurchases.
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 3, 2010.
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