MoneyGram 2010 Annual Report Download - page 31
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Table of Contents
Item 4. [RESERVED]
PART II
Item 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
Our common stock is traded on the New York Stock Exchange under the symbol MGI. No dividends on our common stock were declared
by our Board of Directors in 2010 or 2009. See "Management's Discussion and Analysis of Financial Condition and Results of
Operations — Mezzanine Equity and Stockholders' Deficit" and Note 12 — Stockholders' Deficit of the Notes to Consolidated Financial
Statements. As of March 7, 2011, there were 13,339 stockholders of record of our common stock.
The high and low sales prices for our common stock for fiscal 2010 and 2009 were as follows:
2010 2009
Fiscal Quarter High Low High Low
First $ 3.91 $ 2.53 $ 1.55 $ 1.00
Second $ 4.01 $ 2.34 $ 1.78 $ 1.08
Third $ 2.90 $ 1.99 $ 3.29 $ 1.83
Fourth $ 2.94 $ 2.25 $ 3.25 $ 2.19
The Board of Directors has authorized the repurchase of a total of 12,000,000 shares, as announced publicly in our press releases issued
on November 18, 2004, August 18, 2005 and May 9, 2007. The repurchase authorization is effective until such time as the Company has
repurchased 12,000,000 common shares. Shares of MoneyGram common stock tendered to the Company in connection with the exercise
of stock options or vesting of restricted stock are not considered repurchased shares under the terms of the repurchase authorization. As of
December 31, 2010, we have repurchased 6,795,000 shares of our common stock under this authorization and have remaining
authorization to repurchase up to 5,205,000 shares. The Company has not repurchased any shares since July 2007. The Company may
consider repurchasing shares from time-to-time, subject to limitations in our debt agreements.
The terms of our debt agreements place significant limitations on the amount of restricted payments we may make, including dividends
on our common stock. With certain exceptions, we may only make restricted payments in an aggregate amount not to exceed
$25.0 million, subject to an incremental build-up based on our consolidated net income in future periods. As a result, our ability to
declare or pay dividends or distributions to the stockholders of the Company's common stock is materially limited at this time. No
dividends were paid on our common stock in 2010 and 2009.
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