Health Net 2004 Annual Report Download - page 37

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
The following table sets forth the high and low sales prices of the Company’s common stock, par value $.001 per share, on The
New York Stock Exchange, Inc. (“NYSE”) since January 2002.
On March 11, 2005, the last reported sales price per share of our common stock was $31.82 per share.
Information regarding the Company’s equity compensation plans is contained in Part III below under the caption “Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.”
Holders of Common Stock
High
Low
Calendar Quarter
—
2002
First Quarter
$27.60
$20.55
Second Quarter
$30.15
$24.70
Third Quarter
$26.79
$20.35
Fourth Quarter
$27.57
$21.17
Calendar Quarter
—
2003
First Quarter
$27.90
$22.60
Second Quarter
$33.66
$25.20
Third Quarter
$35.76
$28.45
Fourth Quarter
$33.99
$30.54
Calendar Quarter
—
2004
First Quarter
$33.57
$23.37
Second Quarter
$28.40
$21.86
Third Quarter
$26.70
$22.60
Fourth Quarter
$29.61
$21.60
Calendar Quarter
—
2005
First Quarter through March 11, 2005
$32.96
$27.63
As of March 11, 2005, there were 1,327 holders of record of our common stock.
Dividends
We have not paid any dividends on the common stock during the preceding two fiscal years. We have no present intention of
paying any dividends on the common stock, although the matter will be periodically reviewed by our Board of Directors.
We are a holding company and, therefore, our ability to pay dividends depends on distributions received from our subsidiaries,
which are subject to regulatory net worth requirements and additional state regulations which may restrict the declaration of dividends
by HMOs, insurance companies and licensed managed health care plans. The payment of any dividend is at the discretion of our
Board of Directors and depends upon our earnings, financial position (including cash position), capital requirements and such other
factors as our Board of Directors deems relevant.
Under our senior credit facility we cannot declare or pay cash dividends to our stockholders or purchase, redeem or otherwise
acquire shares of our capital stock or warrants, rights or options to acquire such shares for
34