Avis 2014 Annual Report Download - page 41

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34
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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 2014 and 2013. At January 31, 2015, the number of stockholders of record was
approximately 3,976.
High Low
2014
First Quarter $ 50.48 $ 35.56
Second Quarter 60.43 46.53
Third Quarter 69.76 54.12
Fourth Quarter 68.66 45.94
High Low
2013
First Quarter $ 28.47 $ 20.32
Second Quarter 34.21 25.74
Third Quarter 33.30 26.57
Fourth Quarter 40.72 27.77
DIVIDEND POLICY
We neither declared nor paid any cash dividend on our common stock in 2014 and 2013, and we do not currently
anticipate paying dividends on our common stock. 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 the Company by its
subsidiaries that are governed by such senior credit facility. 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.