Quest Diagnostics 2006 Annual Report Download - page 57

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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):
High Low
Dividends
Declared
Common Stock
Market Price
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
2006
First Quarter .................. $54.33 $48.79 $0.10
Second Quarter ............... 60.35 49.26 0.10
Third Quarter ................. 64.69 57.69 0.10
Fourth Quarter ................ 61.11 48.59 0.10
As of February 21, 2007, we had approximately 6,100 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
Period
(a) Total
Number
of Shares
Purchased
(b) Average
Price Paid
per Share
(c) Total Number of
Shares Purchased as Part
of Publicly Announced
Plans or Programs
(d) Approximate Dollar
Value of Shares that May
Yet Be Purchased Under the
Plans or Programs
(in thousands)
October 1, 2006 –
October 31, 2006 2,826,200 $50.15 2,826,200 $304,351
November 1, 2006 –
November 30, 2006 1,077,910 $50.70 1,077,910 $249,697
December 1, 2006 –
December 31, 2006 — — — $249,697
Total 3,904,110 $50.31 3,904,110 $249,697
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. In January 2006, our Board of Directors expanded the share repurchase authorization by
an additional $600 million. As of December 31, 2006 and since the inception of the share repurchase program in
May 2003, we have repurchased 41.3 million shares of our common stock at an average price of $44.89 for $1.9
billion. At December 31, 2006, approximately $250 million of the share repurchase authorizations remained
available.
Information required by this section is incorporated by reference to the information in the Company’s Proxy
Statement to be filed before April 28, 2007, or the Proxy Statement, appearing under the caption “Equity
Compensation Plan Information”.
36