UPS 2014 Annual Report Download - page 34

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22
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 2014 and 2013. Our
class B common stock is listed on the New York Stock Exchange under the symbol “UPS”.
High Low Close
Dividends
Declared
2014:
First Quarter $ 104.85 $ 93.19 $ 97.38 $ 0.67
Second Quarter $ 104.30 $ 95.57 $ 102.66 $ 0.67
Third Quarter $ 105.09 $ 94.87 $ 98.29 $ 0.67
Fourth Quarter $ 113.10 $ 94.05 $ 111.17 $ 0.67
2013:
First Quarter $ 85.92 $ 75.03 $ 85.90 $ 0.62
Second Quarter $ 89.96 $ 81.95 $ 86.48 $ 0.62
Third Quarter $ 92.10 $ 85.18 $ 91.37 $ 0.62
Fourth Quarter $ 105.35 $ 88.46 $ 105.08 $ 0.62
As of February 20, 2015, there were 153,035 and 18,308 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 11, 2015, our Board declared a dividend of $0.73 per share, which is payable on March 10, 2015 to
shareowners of record on February 23, 2015. This represents a 9% increase from the previous $0.67 quarterly dividend in 2014.
On February 14, 2013, the Board of Directors approved a share repurchase authorization of $10.0 billion, which replaced
an authorization previously announced in 2012. The new share repurchase authorization has no expiration date. We anticipate
repurchasing approximately $2.7 billion of shares in 2015.
A summary of repurchases of our class A and class B common stock during the fourth quarter of 2014 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 4.4 $ 106.17 4.4 $ 4,309
November 1—November 30 0.9 108.43 0.6 4,244
December 1—December 31 0.9 110.45 0.8 4,152
Total October 1—December 31 6.2 $ 107.02 5.8
(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.