Panera Bread 2005 Annual Report Download - page 21

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15
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER
PURCHASES OF EQUITY SECURITIES
Our Class A Common Stock is quoted on The Nasdaq National Market under the symbol “PNRA.” There is no established public
trading market for our Class B Common Stock. The following table sets forth the high and low sale prices for our Class A Common
Stock as reported by Nasdaq for the fiscal periods indicated.
2005 High Low
First Quarter.............................................................................................................................................................. $ 58.98 $ 39.16
Second Quarter ......................................................................................................................................................... $ 66.26 $ 50.02
Third Quarter ............................................................................................................................................................ $ 62.26 $ 49.21
Fourth Quarter .......................................................................................................................................................... $ 72.36 $ 52.90
2004 High Low
First Quarter.............................................................................................................................................................. $ 44.05 $ 34.93
Second Quarter ......................................................................................................................................................... $ 42.83 $ 33.18
Third Quarter ............................................................................................................................................................ $ 39.90 $ 32.95
Fourth Quarter .......................................................................................................................................................... $ 40.62 $ 34.93
On March 1, 2006, the last sale price for the Class A Common Stock, as reported on the Nasdaq National Market, was $71.26. As
of March 1, 2006, we had approximately 2,448 holders of record of our Class A Common Stock and approximately 41 holders of
record of our Class B Common Stock.
Dividend Policy
We have never paid cash dividends on our capital stock and do not intend to pay cash dividends in 2006 as we intend to re-invest
earnings in continued growth of our operations.