iHeartMedia 2001 Annual Report Download - page 33

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33
PART II
ITEM 5. Market for Registrant’s Common Equity and Related Stockholder Matters
Our common stock trades on the New York Stock Exchange under the symbol “CCU.” There
were approximately 3,388 shareholders of record as of March 8, 2002. This figure does not include an
estimate of the indeterminate number of beneficial holders whose shares may be held of record by
brokerage firms and clearing agencies. The following table sets forth, for the calendar quarters indicated,
the reported high and low sales prices of the common stock as reported on the NYSE.
Clear Channel
Common Stock
Market Price
High Low
2000
First Quarter..........................................................
$95.50
$60.00
Second Quarter ..................................................... 83.00 62.06
Third Quarter ........................................................ 85.81 54.75
Fourth Quarter....................................................... 61.00 43.88
2001
First Quarter..........................................................
68.08
47.25
Second Quarter ..................................................... 65.60 50.12
Third Quarter ........................................................ 64.15 35.20
Fourth Quarter....................................................... 51.60 36.99
Dividend Policy
Presently, we expect to retain our earnings for the development and expansion of our business
and do not anticipate paying cash dividends in 2002. The terms of our current credit facilities do not
prohibit us from paying cash dividends unless we are in default under our credit facilities either prior to
or after giving effect to any proposed dividend. However, any future decision by our Board of Directors
to pay cash dividends will depend on, among other factors, our earnings, financial position, and capital
requirements.