Travelers 2005 Annual Report Download - page 73

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PART II
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITYSECURITIES
The Company’s common stock is traded on the New York Stock Exchange, where it is assigned the
symbol “STA.” Prior to the merger of SPC and TPC, SPC’s common stock traded on the New York Stock
Exchange under the symbol “SPC.” The number of holders ofrecord, including individual owners, of the
Company’s common stock was 94,191 as of February 23, 2006. This is not the actual number of beneficial
owners of the Company’s common stock, as shares are held in “street name” by brokers and others on
behalf of individual owners. The following table sets forth the amount of cash dividends declared per share
and the high and low closing sales prices of the Company’s common stock for each quarter during the last
two fiscal years. SPC historical data is presented in the table for the first quarter of 2004, as SPC common
stock was issued to effect the merger, and SPC, as renamed, was thecontinuing public company registrant
following the merger.
High Low
Cash
Dividend
Declared
2005
FirstQuarter ..................................... $39.40 $35.89 $0.22
Second Quarter. .................................. 39.87 33.71 0.23
ThirdQuarter .................................... 45.14 39.60 0.23
Fourth Quarter ................................... 46.70 41.37 0.23
2004
FirstQuarter ..................................... $43.35 $39.20 $0.50
Second Quarter. .................................. 42.99 39.18 0.22
ThirdQuarter .................................... 39.70 32.53 0.22
Fourth Quarter ................................... 37.54 30.99 0.22
The Company paid cash dividends per share of $0.91 in 2005 and $1.16 in2004. The 2004 total
included a special cash dividend of $0.21 per share in the second quarter of 2004, which was declared by
SPC prior to the closing of the merger and resulted in the holders of SPC’s common stock prior to the
merger receiving aggregate dividends with record dates in2004 of $1.16 per share, which was SPC’s
indicated annual dividend rate prior to the merger. Future dividend decisions will be based on and affected
by a number of factors, including the operating results and financial requirements of the Company and the
impact of dividend restrictions. For information on dividends, including dividend restrictions included in
certain long-term loan or credit agreements of the Company and its subsidiaries, as well as restrictions on
the ability of certain of the Company’s subsidiaries to transfer funds to the Company in the form of cash
dividends or otherwise, see Item 7, “Management’s Discussion and Analysis of Financial Condition and
Results of Operations—Liquidity and Capital Resources.” Dividends will be paid by the Company only if
declared by its Board of Directors out of funds legally available, and subject to any other restrictions that
may be applicable to the Company.