Thrifty Car Rental 2008 Annual Report Download - page 28

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The 21,624,752 shares of common stock outstanding at February 20, 2009 were held by approximately
he Company has not paid cash dividends since completion of its initial public offering in December
nder the terms of the revolving credit facility (as amended, the “Revolving Credit Facility”), cash
urchases of Equity Securities by the Issuer and Affiliated Purchasers
5,584 record and beneficial holders.
T
1997. The Company intends to reinvest its earnings in its business and therefore does not anticipate
paying any cash dividends in the foreseeable future.
U
dividends and share repurchases are prohibited. See “Management’s Discussion and Analysis of
Financial Condition and Results of Operations – Liquidity and Capital Resources”.
P
Total Number o
f
Approximate
Shares Purchased Dollar Value o
f
Total Numbe
r
A
verage as Part of Publicly Shares that May Yet
of Shares Price Paid
A
nnounced Plans Be Purchased under
Period Purchased Per Share or Programs the Plans or Programs
October 1, 2008 -
October 31, 2008 - -$ - 117,149,000$
November 1, 2008 -
November 30, 2008 - -$ - 117,149,000$
December 1, 2008 -
December 31, 2008 - -$ - -$
(1)
Total - -
(1) The remaining $117.1 million of authorization for share repurchases expired and has a zero
balance at December 31, 2008.
On February 9, 2006, the Company announced that its Board of Directors had authorized a $300 million
share repurchase program to replace the $100 million program of which $44.7 million had been used to
repurchase shares. Due to weak economic and industry conditions, the Company suspended the share
repurchase program in late 2007 and continued this suspension through year end 2008 when the share
repurchase program expired with $117.1 million of remaining authorization. Since inception of the share
repurchase programs through December 31, 2008, the Company repurchased 6,414,906 shares of
common stock at an average price of $35.48 per share totaling approximately $227.6 million, all of which
were made in open market transactions.
26