Express Scripts 2009 Annual Report Download - page 44

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Express Scripts 2009 Annual Report
PART II
Item 5 — Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Market Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters
Market Information. Our common stock is traded on the Nasdaq Global Select Market (“Nasdaq”) under the symbol
“ESRX.” The high and low prices, as reported by the Nasdaq, are set forth below for the periods indicated.
Fiscal Year 2009
Fiscal Year 2008
Common Stock
High
Low
High
Low
First Quarter
$ 59.63
$ 42.75
$ 79.10
$ 56.00
Second Quarter
69.41
45.06
74.29
60.65
Third Quarter
79.82
63.60
77.97
61.50
Fourth Quarter
89.88
75.00
76.50
48.37
Holders. As of December 31, 2009, there were 328 stockholders of record of our common stock. We estimate
there are approximately 246,808 beneficial owners of our common stock.
Dividends. The Board of Directors has not declared any cash dividends on our common stock since the initial
public offering. The Board of Directors does not currently intend to declare any cash dividends in the foreseeable future.
The terms of our existing credit facility contain certain restrictions on our ability to declare or pay cash dividends, as
discussed in “Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations –
Liquidity and Capital Resources – Bank Credit Facility”.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
The following is a summary of our stock repurchasing activity during the three months ended December 31, 2009
(share data in millions):
Period
Total
number of
shares
purchased
Average
price paid
per share
Total number of
shares purchased
as part of a
publicly
announced
program
Maximum number
of shares
that may yet be
purchased under
the program
10/1/2009 – 10/31/2009
-
$ -
-
21.0
11/1/2009 – 11/30/2009
-
-
-
21.0
12/1/2009 – 12/31/2009
-
-
-
21.0
Fourth quarter 2009 total
-
$ -
-
We have a stock repurchase program, originally announced on October 25, 1996. On July 22, 2008, our Board of
Directors authorized total increases in the program of 15.0 million shares. Treasury shares are carried at first in, first out
cost. There is no limit on the duration of the program. During 2009, we did not repurchase any treasury shares. There are
21.0 million shares remaining under this program. Additional share repurchases, if any, will be made in such amounts and
at such times as we deem appropriate based upon prevailing market and business conditions and other factors.
42