Quest Diagnostics 2005 Annual Report Download - page 52

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PART II
Item 5. Market for Registrant’s Common Stock, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Our common stock is listed and traded on the New York Stock Exchange under the symbol “DGX’’. The
following table sets forth, for the periods indicated, the high and low sales price per share as reported on the
New York Stock Exchange Consolidated Tape and dividend information (all per share data has been restated to
reflect the two-for-one stock split effected on June 20, 2005 – See Note 2 to the Consolidated Financial
Statements):
Common Stock Market Price Dividends
High Low Declared
2004
First Quarter ................. $42.94 $35.94 $0.075
Second Quarter .............. 44.50 40.45 0.075
Third Quarter ................ 44.20 39.55 0.075
Fourth Quarter ............... 48.41 41.58 0.075
2005
First Quarter ................. $52.95 $44.32 $ 0.09
Second Quarter .............. 54.80 50.58 0.09
Third Quarter ................ 54.45 46.80 0.09
Fourth Quarter ............... 52.97 45.00 0.09
As of February 24, 2006, we had approximately 5,500 record holders of our common stock.
We expect to fund future dividend payments with cash flows from operations, and do not expect the
dividend to have a material impact on our ability to finance future growth.
Issuer Purchases Of Equity Securities
(d) Approximate Dollar
(a) Total (c) Total Number of Value of Shares that May
Number (b) Average Shares Purchased as Part Yet Be Purchased Under the
of Shares Price Paid of Publicly Announced Plans or Programs
Period Purchased per Share Plans or Programs (in thousands)
October 1, 2005 –
October 31, 2005 539,700 $ 46.21 539,700 $ 296,777
November 1, 2005 –
November 30, 2005 2,159,900 $ 49.00 2,159,900 $ 190,940
December 1, 2005 –
December 31, 2005 1,336,860 $ 51.55 1,336,860 $ 122,022
Total 4,036,460 $ 49.47 4,036,460 $ 122,022
In 2003, our Board of Directors authorized a share repurchase program, which permitted us to purchase up
to $600 million of our common stock. In July 2004, our Board of Directors authorized us to purchase up to an
additional $300 million of our common stock. Under a separate authorization from our Board of Directors, in
December 2004 we repurchased 5.4 million shares of our common stock for approximately $254 million from
GlaxoSmithKline plc. In January 2005, our Board of Directors expanded the share repurchase authorization by
an additional $350 million. As of December 31, 2005 and since the inception of the share repurchase program
in May 2003, we have repurchased 32.4 million shares of our common stock at an average price of $42.61 for
$1.4 billion. At December 31, 2005, $122 million of the share repurchase authorizations remained available. In
January 2006, our Board of Directors expanded the share repurchase authorization by an additional $600
million, bringing the total amount authorized and available for repurchases to $722 million.
Information required by this section is incorporated by reference to the information in the Company’s
Proxy Statement to be filed on or before April 28, 2006, or the Proxy Statement, appearing under the caption
“Equity Compensation Plan Information’’.
35