AIG 2007 Annual Report Download - page 80

American International Group, Inc. and Subsidiaries
Part II
Item 5.
Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
AIG’s common stock is listed on the New York Stock Exchange, as well as on the stock exchanges in Paris and Tokyo.
The following table presents the high and low closing sales prices and the dividends paid per share of AIG’s common
stock on the New York Stock Exchange Composite Tape, for each quarter of 2007 and 2006:
2007 2006
Dividends Dividends
High Low Paid High Low Paid
First quarter $72.15 $66.77 $0.165 $70.83 $65.35 $0.150
Second quarter 72.65 66.49 0.165 66.54 58.67 0.150
Third quarter 70.44 61.64 0.200 66.48 57.76 0.165
Fourth quarter 70.11 51.33 0.200 72.81 66.30 0.165
The approximate number of holders of common stock as of January 31, 2008, based upon the number of record holders, was 56,500.
Subject to the dividend preference of any of AIG’s serial preferred stock that may be outstanding, the holders of shares of common
stock are entitled to receive such dividends as may be declared by AIG’s Board of Directors from funds legally available therefor.
In February 2007, AIG’s Board of Directors adopted a new dividend policy, which took effect with the dividend that was declared in the
second quarter of 2007. Under ordinary circumstances, AIG’s plan is to increase its common stock dividend by approximately
20 percent annually. The payment of any dividend, however, is at the discretion of AIG’s Board of Directors, and the future payment of
dividends will depend on various factors, including the performance of AIG’s businesses, AIG’s consolidated financial condition, results
of operations and liquidity and the existence of investment opportunities.
For a discussion of certain restrictions on the payment of dividends to AIG by some of its insurance subsidiaries, see Note 14 to
Consolidated Financial Statements.
The following table summarizes AIG’s stock repurchases for the three-month period ended December 31, 2007:
Maximum Number
Total Number of Shares that
of Shares May Yet Be
Total Number Purchased as Part Purchased Under the
of Shares Average Price of Publicly Announced Plans or Programs
Period Purchased(a)(b) Paid per Share Plans or Programs at End of Month(b)
October 1 - 31, 2007 13,964,098 $66.12 13,964,098
November 1 - 30, 2007 5,709,067 61.56 5,709,067
December 1 - 31, 2007 1,584,199 55.58 1,584,199
Total 21,257,364 $64.11 21,257,364
(a) Reflects date of delivery. Does not include 49,583 shares delivered or attested to in satisfaction of the exercise price by holders of AIG employee
stock options exercised during the three months ended December 31, 2007 or 23,300 shares purchased by ILFC to satisfy obligations under employee
benefit plans.
(b) In Februar y 2007, AIG’s Board of Directors increased AIG’s share repurchase program by authorizing the repurchase of shares with an aggregate
purchase price of $8 billion. In November 2007, AIG’s Board of Directors authorized the repurchase of an additional $8 billion in common stock. A
balance of $10.9 billion remained for purchases under the program as of December 31, 2007, although $912 million of that amount has been
advanced by AIG to purchase shares under the program and an additional $1 billion was required to be advanced in January 2008 to meet
commitments that existed at December 31, 2007.
AIG does not expect to purchase additional shares under its share repurchase program for the foreseeable future, other than to meet
commitments that existed at December 31, 2007.
AIG’s table of equity compensation plans previously approved by security holders and equity compensation plans not previously approved
by security holders will be included in AIG’s Definitive Proxy Statement in connection with its 2008 Annual Meeting of Shareholders,
which will be filed with the SEC within 120 days of AIG’s fiscal year end.
26 AIG 2007 Form 10-K