UPS 2005 Annual Report Download - page 30

PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Our Class A common stock is not listed on a national securities exchange or traded in an organized
over-the-counter market, but each share of our Class A common stock is convertible into one share of our
Class B common stock.
The following is a summary of our Class B common stock price activity and dividend information for 2005
and 2004. Our Class B common stock is listed on the New York Stock Exchange under the symbol “UPS.”
High Low Close
Dividends
Declared
2005:
First Quarter ................................................. $85.84 $71.59 $72.74 $0.33
Second Quarter ............................................... $75.88 $66.80 $69.16 $0.33
Third Quarter ................................................ $74.21 $66.75 $69.13 $0.33
Fourth Quarter ............................................... $79.97 $66.90 $75.15 $0.33
2004:
First Quarter ................................................. $74.46 $67.51 $69.84 $0.28
Second Quarter ............................................... $75.26 $68.57 $75.17 $0.28
Third Quarter ................................................ $76.00 $69.15 $75.92 $0.28
Fourth Quarter ............................................... $87.70 $75.76 $85.46 $0.28
As of February 21, 2006, there were 171,893 and 16,611 record holders of Class A and Class B common
stock, respectively.
The policy of our Board of Directors is to declare dividends each year out of current earnings. The
declaration of future dividends is subject to the discretion of the Board of Directors in light of all relevant facts,
including earnings, general business conditions and working capital requirements.
On February 9, 2006, our Board declared a dividend of $0.38 per share, which was payable on March 7,
2006 to shareowners of record on February 21, 2006.
In August 2005, the Board of Directors authorized an increase in our share repurchase program of $2.0
billion. This amount was in addition to the remaining authority available under the previously authorized $2.0
billion share repurchase program approved in October 2004. As of December 31, 2005, we had a total of $1.338
billion in remaining authority available under our share repurchase program. Unless terminated earlier by the
resolution of our Board, the program will expire when we have purchased all shares authorized for repurchase
under the program.
A summary of repurchases of our Class A and Class B common stock during the fourth quarter of 2005 is as
follows (in millions, except per share amounts):
Total Number
of Shares
Purchased(1)
Average
Price Paid
Per Share(1)
Total Number
of Shares Purchased
as Part of Publicly
Announced Program
Approximate Dollar
Value of Shares that
May Yet be Purchased
Under the Program
October 1 – October 31, 2005 ............... 2.1 $69.88 2.0 $1,722
November 1 – November 30, 2005 ........... 2.0 75.35 1.9 1,578
December 1 – December 31, 2005 ........... 3.2 76.17 3.2 1,338
Total October 1 – December 31, 2005 .... 7.3 $74.15 7.1 $1,338
(1) Includes shares repurchased through our publicly announced share repurchase program and shares tendered
to pay the exercise price and tax withholding on employee stock options.
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