Virgin Media 2008 Annual Report Download - page 146

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 16—Shareholders’ Equity (Continued)
The following table summarizes the movement in the number of shares of common stock
outstanding during the years ended December 31, 2006, 2007 and 2008 (in millions, except share
exchange ratio):
Number
of shares
December 31, 2005 outstanding shares as previously reported by Virgin Media Holdings
(formerly known as NTL Incorporated) ...................................... 85.2
Multiplied by share exchange ratio in reverse acquisition ........................... 2.5
Shares at December 31, 2005 (after giving effect to reverse acquisition) ................ 212.9
Effect of the reverse acquisition—conversion of Virgin Media Inc. (formerly known as
Telewest Global, Inc.) shares ............................................ 70.7
Issued under Scheme of Arrangement to acquire Virgin Mobile .................... 34.4
Net issuances and purchases during the period ................................. 5.9
December 31, 2006 outstanding shares ........................................ 323.9
Net issuances and purchases during the period ................................. 3.6
December 31, 2007 outstanding shares ........................................ 327.5
Net issuances and purchases during the period ................................. 0.6
December 31, 2008 outstanding shares ........................................ 328.1
We commenced the payment of regular quarterly dividends in June 2006. During the years ended
December 31, 2008, 2007 and 2006, we paid the following dividends:
Total
Board Declaration Date Per Share Record Date Payment Date Amount
(in millions)
Year ended December 31, 2006:
May 18, 2006 ................ $0.01 June 12, 2006 June 20, 2006 £1.6
August 28, 2006 .............. 0.02 September 12, 2006 September 20, 2006 3.5
November 28, 2006 ............ 0.02 December 12, 2006 December 20, 2006 3.4
Year ended December 31, 2007:
February 27, 2007 ............. $0.02 March 12, 2007 March 20, 2007 £3.3
May 16, 2007 ................ 0.03 June 12, 2007 June 20, 2007 5.0
August 15, 2007 .............. 0.04 September 12, 2007 September 20, 2007 6.5
November 27, 2007 ............ 0.04 December 12, 2007 December 20, 2007 6.4
Year ended December 31, 2008:
February 6, 2008 .............. $0.04 March 12, 2008 March 20, 2008 £6.6
May 21, 2008 ................ 0.04 June 12, 2008 June 20, 2008 6.7
September 2, 2008 ............. 0.04 September 12, 2008 September 22, 2008 7.1
November 25, 2008 ............ 0.04 December 12, 2008 December 22, 2008 8.9
Future payments of regular quarterly dividends by us are at the discretion of our Board of
Directors and will be subject to our future needs and uses of cash, which could include investments in
operations, the repayment of debt, and share repurchase programs. In addition, the terms of our and
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