Time Warner Cable 2008 Annual Report Download - page 55

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
The principal market for TWC Class A common stock is the NYSE. The TWC Class A common stock began
trading on the NYSE on March 1, 2007. For quarterly price information with respect to the TWC Class A common
stock since that date, see “Quarterly Financial Information” at page 141 herein, which information is incorporated
herein by reference. There were approximately 5,800 holders of record of TWC Class A common stock as of
January 30, 2009. There is no established public trading market for the Company’s Class B common stock, which
was held of record by one holder as of February 20, 2009.
TWC has not paid any cash dividends on its common stock over the last two years. Pursuant to the terms of the
Separation Agreement, TWC’s board of directors has authorized the payment of a special cash dividend to holders
of TWC’s outstanding Class A common stock and Class B common stock, including Time Warner, in an amount
equal to $10.27 per share (aggregating $10.855 billion). TWC’s board of directors will determine whether to pay
other dividends in the future based on conditions then existing, including TWC’s earnings, financial condition and
capital requirements, as well as economic and other conditions TWC’s board of directors may deem relevant. In
addition, TWC’s ability to declare and pay dividends on its common stock is subject to requirements under
Delaware law and covenants in TWC’s senior unsecured revolving credit facility.
In connection with the Separation Transactions, the Company will effectuate the Recapitalization, causing
each share of TWC Class A common stock and Class B common stock to be converted into one share of TWC
Common Stock. The Company also has been authorized to effectuate a reverse stock split of the TWC Common
Stock at a 1-for-3 ratio.
Item 6. Selected Financial Data.
The selected financial information of TWC for the five years ended December 31, 2008 is set forth at pages 139
through 140 herein and is incorporated herein by reference.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
The information set forth under the caption “Management’s Discussion and Analysis of Results of Operations
and Financial Condition” at pages 50 through 87 herein is incorporated herein by reference.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
The information set forth under the caption “Market Risk Management” at pages 80 through 81 herein is
incorporated herein by reference.
Item 8. Financial Statements and Supplementary Data.
The consolidated financial statements of TWC and the report of independent registered public accounting firm
thereon set forth at pages 88 through 135 and 137 herein are incorporated herein by reference.
Quarterly Financial Information set forth at page 141 herein is incorporated herein by reference.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Not Applicable.
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