UPS 2011 Annual Report Download - page 33

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 2011
and 2010. Our class B common stock is listed on the New York Stock Exchange under the symbol “UPS.”
High Low Close
Dividends
Declared
2011:
First Quarter ................................................. $76.99 $70.22 $74.32 $0.52
Second Quarter ............................................... $75.58 $68.14 $72.93 $0.52
Third Quarter ................................................ $75.79 $60.75 $63.15 $0.52
Fourth Quarter ............................................... $73.80 $61.27 $73.19 $0.52
2010:
First Quarter ................................................. $64.95 $55.77 $64.41 $0.47
Second Quarter ............................................... $70.89 $56.70 $56.89 $0.47
Third Quarter ................................................ $69.50 $56.47 $66.69 $0.47
Fourth Quarter ............................................... $73.94 $65.44 $72.58 $0.47
As of January 31, 2012, there were 157,455 and 18,024 record holders of class A and class B common
stock, respectively.
The policy of our Board of Directors is to declare dividends out of current earnings. The declaration of
dividends is subject to the discretion of the Board of Directors and will depend on various factors, including our
net income, financial condition, cash requirements, future prospects, and other relevant factors.
On February 9, 2012, our Board declared a dividend of $0.57 per share, which is payable on March 7, 2012
to shareowners of record on February 21, 2012. This represents a 10% increase from the previous $0.52 quarterly
dividend in 2011.
In January 2008, the Board of Directors approved an increase in our share repurchase authorization to $10.0
billion. Share repurchases may take the form of accelerated share repurchases, open market purchases, or other
such methods as we deem appropriate. The timing of our share repurchases will depend upon market conditions.
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 2011 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
(as of month-end)
October 1—October 31 .............. 1.5 $67.78 1.5 $2,895
November 1—November 30 .......... 4.2 68.72 4.0 2,615
December 1—December 31 ........... 1.4 70.18 1.3 2,525
Total October 1—December 31 .... 7.1 $68.79 6.8
(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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