United Airlines 2012 Annual Report Download - page 30

Table of Contents
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UAL’s common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “UAL.” The following table sets forth the ranges of high and
low sales prices per share of UAL common stock during the last two fiscal years, as reported by the NYSE:
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 
   
1st quarter
$ 25.84 $ 17.25 $ 27.72 $ 21.65
2nd quarter
25.50 20.55 26.84 19.32
3rd quarter
24.95 17.45 23.28 15.92
4th quarter
24.23 18.85 21.45 15.51
Based on reports by the Company’s transfer agent for UAL common stock, as of February 7, 2013, there were approximately 12,900 record holders of UAL
common stock and approximately 29,400 holders of UAL common stock comprised of UAL’s record holders and bankruptcy distribution holders under
UAL Corporation’s Chapter 11 plan of reorganization.
UAL, United and Continental did not pay any dividends in 2012 or 2011. Under the provisions of the Amended and Restated Revolving Credit, Term Loan
and Guaranty Agreement, dated as of February 2, 2007 (the “Amended Credit Facility”) and the terms of certain of the Company’s other debt agreements,
UAL’s ability to pay dividends on or repurchase UAL’s common stock is restricted. However, UAL may undertake $243 million in stockholder dividends or
other distributions without any additional prepayment of the Amended Credit Facility, provided that all covenants within the Amended Credit Facility are met.
The Amended Credit Facility provides that UAL and United can carry out further stockholder dividends or other distributions in an amount equal to future
term loan prepayments, provided the covenants are met. In addition, under the provisions of the indenture governing Continental’s 6.75% Senior Secured
Notes due 2015, the ability of Continental to pay dividends is restricted. Any future determination regarding dividend or distribution payments will be at the
discretion of the Board of Directors, subject to applicable limitations under Delaware law.
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