Adobe 2003 Annual Report Download - page 29

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29
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
Our common stock is traded on the Nasdaq National Market under the symbol “ADBE.” On January 30, 2004,
there were 1,746 holders of record of our common stock. Because many of such shares are held by brokers and other
institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by
these record holders. The following table sets forth the high and low sales price per share of our common stock and
the cash dividends paid per share, for the periods indicated.
Price Range
High Low
Cash
Dividend
Per Share
Fiscal 2003:
First Quarter ................................................................................................ $ 29.34 $ 24.27 $ 0.0125
Second Quarter............................................................................................ 38.38 25.64 0.0125
Third Quarter............................................................................................... 40.00 30.46 0.0125
Fourth Quarter............................................................................................. 46.38 36.23 0.0125
Fiscal Year .................................................................................................. 46.38 24.27 0.05
Fiscal 2002:
First Quarter ................................................................................................ $ 39.20 $ 30.00 $ 0.0125
Second Quarter............................................................................................ 43.32 35.05 0.0125
Third Quarter............................................................................................... 39.03 16.50 0.0125
Fourth Quarter............................................................................................. 30.52 17.71 0.0125
Fiscal Year .................................................................................................. 43.32 16.50 0.05
We have paid cash dividends on our common stock each quarter since the second quarter of 1988. Adobe’s
Board of Directors declared a cash dividend on our common stock of $0.0125 per common share for each of the four
quarters in fiscal 2003 and 2002. Under the terms of our lease agreements for our San Jose headquarters, we are not
prohibited from paying cash dividends unless an event of default occurs. The declaration of future dividends,
whether in cash or in-kind, is within the discretion of Adobe’s Board of Directors and will depend on business
conditions, our results of operations and financial condition, and other factors.
For information on our equity compensation plans and financial covenant ratios, refer to Item 7,
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” under the sections titled
“Employee and Director Stock Options” and “Liquidity and Capital Resources,” respectively.