AIG 2006 Annual Report Download - page 72

American International Group, Inc. and Subsidiaries
Part II
For a discussion of certain restrictions on the payment of
Item 5.
dividends to AIG by some of its insurance subsidiaries, see
Market for the Registrant’s Common Equity,
Note 11 of Notes to Consolidated Financial Statements.
Related Stockholder Matters and Issuer
Purchases of Equity Securities The following table summarizes AIG’s stock repurchases
for the three-month period ended December 31, 2006:
AIG’s common stock is listed on the New York Stock Exchange, as
well as on the stock exchanges in London, Paris, Switzerland and Maximum
Tokyo. Number of
Total Shares
Number of that May
The following table presents the high and low closing
Shares Yet Be
sales prices and the dividends paid per share of AIG’s Purchased Purchased
common stock on the New York Stock Exchange Compos- Average as Part of Under the
Price Publicly Plans or
ite Tape, for each quarter of 2006 and 2005. Total Number Paid Announced Programs
of Shares per Plans or at End of
2006 2005 Period Purchased(a)(b) Share Programs Month(b)
Dividends Dividends
High Low Paid High Low Paid October 1 - 31, 2006 — $ — — 36,542,700
November 1 - 30,
First quarter $70.83 $65.35 $0.150 $73.46 $54.18 $0.125 2006 — — — 36,542,700
Second December 1 - 31,
quarter 66.54 58.67 0.150 58.94 49.91 0.125 2006 — — — 36,542,700
Third quarter 66.48 57.76 0.165 63.73 56.00 0.150
Total — $ — —
Fourth
quarter 72.81 66.30 0.165 64.40 60.43 0.150 (a) Does not include 165,190 shares delivered or attested to in satisfac-
tion of the exercise price by holders of AIG employee stock options
The approximate number of holders of common stock as of exercised during the three months ended December 31, 2006 or
January 31, 2007, based upon the number of record holders, was 17,000 shares purchased by ILFC to satisfy obligations under em-
58,000. ployee benefit plans.
Subject to the dividend preference of any of AIG’s serial (b) On July 19, 2002, AIG announced that its Board of Directors had
authorized the open market purchase of up to 10 million shares of
preferred stock that may be outstanding, the holders of shares of
common stock. On February 13, 2003, AIG announced that its Board
common stock are entitled to receive such dividends as may be of Directors had expanded the existing program through the authoriza-
declared by AIG’s Board of Directors from funds legally available tion of an additional 50 million shares. The purchase program has no
therefor. set expiration or termination date. In February 2007, AIG’s Board of
Directors increased the repurchase program by authorizing the repur-
In February 2007, AIG’s Board of Directors adopted a new
chase of shares with an aggregate purchase price of $8 billion.
dividend policy, to take effect with the dividend to be declared in
the second quarter of 2007, providing that under ordinary AIG’s table of equity compensation plans previously approved
circumstances, AIG’s plan will be to increase its common stock by security holders and equity compensation plans not previously
dividend by approximately 20 percent annually. The payment of approved by security holders will be included in AIG’s Definitive
any dividend, however, is at the discretion of AIG’s Board of Proxy Statement in connection with its 2007 Annual Meeting of
Directors, and the future payment of dividends will depend on Shareholders, which will be filed with the SEC within 120 days of
various factors, including the performance of AIG’s businesses, AIG’s fiscal year end.
AIG’s consolidated financial position, results of operations and
liquidity and the existence of investment opportunities.
22 AIG 2006 Form 10-K