Discover 2011 Annual Report Download - page 51

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39
PART II.
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Common Stock Market Prices and Dividends
Our common stock began trading “regular way” on the New York Stock Exchange ("NYSE") (ticker symbol DFS) on
July 2, 2007. The approximate number of record holders of our common stock as of January 20, 2012 was 76,673.
The following table sets forth the quarterly high and low sales prices of a share of our common stock as reported by the
NYSE and the cash dividends we declared per share of our common stock during the quarter indicated:
Quarter Ended:
2010
February 28
May 31
August 31
November 30
2011
February 28
May 31
August 31
November 30
Stock Price
High
$16.78
$16.59
$15.78
$19.16
$22.04
$25.76
$27.92
$27.32
Low
$12.58
$12.61
$12.11
$14.65
$17.86
$20.96
$20.51
$21.44
Cash Dividends
Declared
$0.02
$0.02
$0.02
$0.02
$0.02
$0.06
$0.06
$0.06
In the second quarter of 2011, we increased our quarterly common stock dividend from $.02 per share to $.06 per share
and maintained a $.06 per share dividend in each of the third and fourth quarters of 2011. In the first quarter of 2012, we
increased our dividend to $.10 per share. Although we expect to continue our policy of paying regular cash dividends, we
cannot assure that we will do so in the future. For more information, including conditions and limits on our ability to pay
dividends, see "Business - Supervision and Regulation - Capital, Dividends and Share Repurchases," "Risk Factors - We may be
limited in our ability to pay dividends and repurchase our common stock," "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Regulatory Environment and Developments - Capital and Liquidity,"
"Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources -
Capital" and Note 19: Capital Adequacy to our consolidated financial statements.
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