UPS 2006 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 2006 UPS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 111

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111

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 2006
and 2005. Our Class B common stock is listed on the New York Stock Exchange under the symbol “UPS.”
High Low Close
Dividends
Declared
2006:
First Quarter ................................................. $80.16 $72.74 $79.38 $0.38
Second Quarter ............................................... $83.99 $77.55 $82.33 $0.38
Third Quarter ................................................ $83.00 $65.50 $71.94 $0.38
Fourth Quarter ............................................... $79.72 $71.95 $74.98 $0.38
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
As of January 31, 2007, there were 174,096 and 17,237 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 8, 2007, our Board declared a dividend of $0.42 per share, which is payable on March 6, 2007
to shareowners of record on February 20, 2007.
In February 2007, the Board of Directors approved an increase in our share repurchase authorization to $2.0
billion. This amount replaced the remaining authority available under the previously authorized $2.0 billion share
repurchase program approved in July 2006. 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 2006 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, 2006 . . . . . . . . . . . . . . . 2.1 $74.77 2.0 $1,250
November 1 – November 30, 2006 . . . . . . . . . . . 2.1 77.08 2.0 1,094
December 1 – December 31, 2006 ........... 2.1 75.95 2.1 936
Total October 1 – December 31, 2006 .... 6.3 $75.94 6.1 $ 936
(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.
16