Avis 2012 Annual Report Download - page 34

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27
PART II
Market Price of Common Stock
Our common stock is currently traded on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “CAR.” The
following table sets forth the quarterly high and low sales prices per share of our common stock as reported by NASDAQ for
2012 and 2011. At January 31, 2013, the number of stockholders of record was approximately 4,340.
2012 High Low
First Quarter $ 15.52 $ 10.59
Second Quarter 16.97 11.93
Third Quarter 17.90 12.85
Fourth Quarter 20.49 15.32
2011
First Quarter 18.26 13.69
Second Quarter 19.20 15.70
Third Quarter 17.73 9.67
Fourth Quarter 14.62 8.89
Dividend Policy
We neither declared nor paid any cash dividend on our common stock in 2012 and 2011, 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 by the Company’s senior credit facility, the indentures 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 by Avis Budget Car Rental
and/or its subsidiaries. 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.