Frontier Communications 2011 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2011 Frontier Communications 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 105

  • 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
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105

FRONTIER COMMUNICATIONS CORPORATION AND SUBSIDIARIES
26
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
PRICE RANGE OF COMMON STOCK
Our common stock is currently traded on the NASDAQ Global Select Market under the symbol FTR. The following table
indicates the high and low intra-day sales prices per share during the periods indicated, as reported by the New York Stock
Exchange through December 15, 2011, and the NASDAQ Global Select Market commencing on December 16, 2011.
Hi
g
hLow Hi
g
hLow
First Quarte
r
$ 9.84 $ 7.68 $ 8.02 $ 7.23
Second Quarter $ 8.97 $ 7.71 $ 8.38 $ 7.07
Third Quarte
r
$ 8.23 $ 6.09 $ 8.30 $ 6.96
Fourth Quarter $ 6.40 $ 4.79 $ 9.78 $ 8.16
2011 2010
As of February 15, 2012, the approximate number of security holders of record of our common stock was 672,085. This
information was obtained from our transfer agent, Computershare Inc.
DIVIDENDS
The amount and timing of dividends payable on our common stock are within the sole discretion of our Board of Directors.
From the third quarter of 2004 through the second quarter of 2010, we paid an annualized cash dividend of $1.00 per share of
common stock, paid quarterly. From the third quarter of 2010 through the fourth quarter of 2011, we paid an annualized cash
dividend of $0.75 per share of common stock, paid quarterly. Effective February 16, 2012, our Board of Directors set the
annual cash dividend at $0.40 per share. Cash dividends paid to shareholders were approximately $746.6 million, $529.4
million and $312.4 million in 2011, 2010 and 2009, respectively. There are no material restrictions on our ability to pay
dividends. The increase in aggregate dividends paid in 2010 and 2011 reflects the increase in the number of shares outstanding
as a result of the Transaction, offset in part by the reduction in the amount of the dividend per share, as described above. The
table below sets forth dividends paid per share during the periods indicated.
A portion of the dividends is classified as total ordinary dividends and represents qualified dividends, and a portion of the
dividends is classified as non-dividend distributions and represents a return of capital.
First Quarter $ 0.1875 $ 0.25 $ 0.25
Second Quarte
r
$ 0.1875 $ 0.25 $ 0.25
Third Quarte
r
$ 0.1875 $ 0.1875 $ 0.25
Fourth Quarte
r
$ 0.1875 $ 0.1875 $ 0.25
200920102011