Dish Network 1998 Annual Report Download - page 25

Download and view the complete annual report

Please find page 25 of the 1998 Dish Network annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 81

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81

23
PART II
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
Our Class A common stock is quoted on the Nasdaq Stock Market under the symbol “DISH.” The high and
low closing sale prices of the Class A common stock during 1997 and 1998 on the Nasdaq Stock Market (as reported
by Nasdaq) are set forth below:
1997 High Low
First Quarter ...................................................................................... 26 3/415
Second Quarter .................................................................................. 21 3/811 3/8
Third Quarter..................................................................................... 24 1/413 1/2
Fourth Quarter ................................................................................... 25 15/16 14 1/2
1998
First Quarter ...................................................................................... 23 1/816 5/8
Second Quarter .................................................................................. 31 22 1/2
..................................................................................... 29 5/817 5/8
Fourth Quarter ................................................................................... 48 3/820 1/4
As of March 5, 1999, there were approximately 2,279 holders of record of our Class A common stock, not
including stockholders who beneficially own Class A common stock held in nominee or street name. As of
March 5, 1999, all 29,804,401 outstanding shares of our Class B common stock were held by Charles W. Ergen, our
Chief Executive Officer. There is currently no trading market for our Class B common stock.
We have never declared or paid any cash dividends on any class of our common stock and do not expect to
declare dividends on our common stock in the foreseeable future. Payment of any future dividends will depend upon
our earnings and capital requirements, restrictions in our debt facilities, and other factors the Board of Directors
considers appropriate. We currently intend to retain our earnings, if any, to support future growth and expansion.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and
Capital Resources.”