Virgin Media 2009 Annual Report Download - page 146

VIRGIN MEDIA INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 16—Shareholders’ Equity
Authorized Share Capital
Our authorized share capital for issuance consists of one billion shares of common stock,
300.0 million shares of Class B redeemable common stock and five million shares of preferred stock
with a par value of $0.01 each. As at December 31, 2009, there were 329.4 million shares of common
stock outstanding, and no Class B redeemable common stock or preferred stock outstanding. The
common stock is voting with rights to dividends as declared by the Board of Directors.
The following table summarizes the movement in the number of shares of common stock
outstanding during the years ended December 31, 2007, 2008 and 2009 (in millions,):
Number
of shares
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
Net issuances and purchases during the period .................... 1.3
December 31, 2009 outstanding shares ........................... 329.4
During the years ended December 31, 2009, 2008 and 2007, we paid the following dividends:
Per Total
Board Declaration Date Share Record Date Payment Date Amount
(in millions)
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
Year ended December 31, 2009:
February 27, 2009 ............... $0.04 March 12, 2009 March 20, 2009 £9.0
May 29, 2009 .................. 0.04 June 12, 2009 June 22, 2009 8.0
August 27, 2009 ................ 0.04 September 11, 2009 September 21, 2009 8.1
November 24, 2009 .............. 0.04 December 11, 2009 December 21, 2009 8.2
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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