Avis 2009 Annual Report Download - page 38

Table of Contents
PART II
Market Price of Common Stock
Our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “CAR”. At January 29, 2010, the number of
stockholders of record was approximately 3,884. The following table sets forth the quarterly high and low sales prices per share of our common
stock as reported by the NYSE for 2009 and 2008.
Dividend Policy
We paid no cash dividends on our common stock in 2009 and 2008 and we do not anticipate paying dividends on our common stock for the
foreseeable future. Our ability to pay dividends to holders of our common stock is limited as a practical matter by the Company’s senior credit
facilities, the indenture governing our senior notes and our vehicle financing programs, insofar as we may seek to pay dividends out of funds
made available to Avis Budget Group by ABCR and/or its subsidiaries, because these debt financings directly or indirectly restrict the
Company’
s ability to pay dividends. The declaration and payment of future dividends to holders of our common stock will be at the discretion of
our Board of Directors and will depend upon many factors, including our financial condition, earnings, capital requirements of our businesses,
covenants associated with certain debt obligations, legal requirements, regulatory constraints, industry practice and other factors that the Board
of Directors deems relevant.
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ITEM 5.
MARKET FOR REGISTRANT
’
S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
2009
High
Low
First Quarter
$
1.20
$
0.34
Second Quarter
5.93
0.76
Third Quarter
14.14
5.10
Fourth Quarter
13.85
8.08
2008
High
Low
First Quarter
$
13.74
$
9.00
Second Quarter
18.00
8.30
Third Quarter
11.90
4.20
Fourth Quarter
5.83
0.38