Delta Airlines 2007 Annual Report Download - page 25

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Table of Contents
Index to Financial Statements
PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
Market Information
Shares of our common stock issued and outstanding immediately prior to April 30, 2007 (the "Old Common Stock") traded on the Pink Sheets
Electronic Quotation Service ("Pink Sheets") maintained by Pink Sheets LLC for the National Quotation Bureau, Inc. The ticker symbol "DALRQ" was
assigned to our Old Common Stock for over-the-counter quotations. On April 30, 2007, the Old Common Stock was canceled pursuant to the terms of our
Plan of Reorganization and we have no continuing obligations with respect to the Old Common Stock.
Pursuant to the Plan of Reorganization, we issued or reserved for issuance up to 400 million shares of common stock (the "New Common Stock"),
consisting of (1) 386 million shares to holders of allowed general, unsecured claims (including our pilots) and (2) 14 million shares to our approximately
39,000 eligible non-contract, non-management employees. The new common stock was listed on the New York Stock Exchange and began trading under the
ticker symbol "DAL" on May 3, 2007.
The following table sets forth for the periods indicated, the highest and lowest sales price for our Old Common Stock as reported on the Pink Sheets for
the period through April 27, 2007 and for our New Common Stock as reported on the NYSE for the period beginning April 30, 2007. The quotations from the
Pink Sheets reflect inter-dealer prices, without retail markup, markdown or commissions, and may not represent actual transactions.
Old Common
Stock(1)
New Common
Stock(2)
High Low High Low
Fiscal 2006
First Quarter $ 0.88 $ 0.30 — —
Second Quarter 0.81 0.50 — —
Third Quarter 1.78 0.63 — —
Fourth Quarter 1.77 0.96 — —
Fiscal 2007
First Quarter $ 1.48 $ 0.21 — —
Second Quarter $ 0.48 $ 0.01 $ 21.95 $ 18.02
Third Quarter — — $ 21.80 $ 14.94
Fourth Quarter — — $ 21.10 $ 14.04
(1) The Old Common Stock was canceled pursuant to the terms of our Plan of Reorganization and no further trading occurred after April 27, 2007.
(2) The New Common Stock commenced trading on April 30, 2007 on a "when-issued" basis and was listed on the New York Stock Exchange and began trading under the ticker symbol
"DAL" on May 3, 2007.
Holders
As of January 31, 2008, there were approximately 115 holders of record of our New Common Stock.
Dividends
We suspended the payment of dividends on our Old Common Stock in 2003. We expect to retain any future earnings to fund our operations and meet
our cash and liquidity needs. In addition, our ability to pay dividends or repurchase New Common Stock is restricted under credit facilities that we entered
into in connection with our emergence from bankruptcy. Therefore, we do not anticipate paying any dividends on our New Common Stock for the foreseeable
future.
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