Prudential 2012 Annual Report Download - page 228

MARKET PRICE OF AND DIVIDENDS ON COMMON EQUITY, AND RELATED STOCKHOLDER MATTERS
Prudential Financial’s Common Stock was issued to eligible policyholders in Prudential Insurance’s demutualization and sold to
investors in Prudential Financial’s initial public offering. The Common Stock began trading on the New York Stock Exchange under the
symbol “PRU” on December 13, 2001. The following table presents the high and low closing prices for the Common Stock on the New
York Stock Exchange during the periods indicated and the dividends declared per share during such periods:
High Low Dividends
2012:
Fourth Quarter ....................................................................................... $59.89 $48.74 $1.60
Third Quarter ....................................................................................... $58.63 $45.46 —
Second Quarter ...................................................................................... $64.50 $44.74 —
First Quarter ........................................................................................ $64.65 $51.30 —
2011:
Fourth Quarter ....................................................................................... $57.32 $43.91 $1.45
Third Quarter ....................................................................................... $65.26 $43.93 —
Second Quarter ...................................................................................... $64.62 $57.77 —
First Quarter ........................................................................................ $67.32 $58.32 —
On January 31, 2013, there were 1,742,501 registered holders of record for the Common Stock and 463 million shares outstanding.
The Class B Stock was issued to institutional investors (two subsidiaries of American International Group, Inc. and Pacific Life Corp.)
in a private placement pursuant to Section 4(2) of the Securities Act of 1933 on the date of demutualization. There is no established public
trading market for the Class B Stock. During the fourth quarter of 2012 and 2011, Prudential Financial paid an annual dividend of $9.625
per share of Class B Stock. On January 31, 2013, there were three holders of record for the Class B Stock and 2 million shares outstanding.
Prudential Financial’s Board of Directors currently intends to continue to declare and pay dividends on the Common Stock and Class
B Stock. Beginning in the first quarter of 2013, Prudential Financial will move to a quarterly Common Stock dividend schedule. Future
dividend decisions will be based on, and affected by, a number of factors including the financial performance of the Financial Services
Businesses and Closed Block Business; our overall financial condition, results of operations, cash requirements and future prospects;
regulatory restrictions on the payment of dividends by Prudential Financial’s subsidiaries; and such other factors as the Board of Directors
may deem relevant. Dividends payable by Prudential Financial are limited to the amount that would be legally available for payment under
New Jersey corporate law. For additional information on dividends and related regulatory restrictions, see Note 15 to the Consolidated
Financial Statements.
For additional information about our exchangeable surplus notes see Note 14 to the Consolidated Financial Statements.
226 Prudential Financial, Inc. 2012 Annual Report