CenturyLink 2004 Annual Report Download - page 17

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[ 15 ]
“Disciplined”
We work hard to make smart use of cash.
In 2004 we repurchased nearly 13.4 million
shares of common stock, or more than
9 percent of December 31, 2003 shares
outstanding, and in February 2005
announced a new $200 million stock
repurchase program.
“In Good Company”
CenturyTel has traded on the New
York Stock Exchange under the
symbol CTL since 1978 – more than
25 years – and was admitted to the
S&P 500 Index in 1999.
Stockholders’ Equity
(in millions)
Net Cash Provided
from Operating
Activities
(in millions)
436
573
We Want A Stable Provider We Can Count On
CenturyTel has served many of our markets for
decades. We make long-term investments in local
and regional communications networks. We have
experienced employees who are committed to serving our
customers. We are financially strong – with a solid
balance sheet, investment-grade credit ratings and healthy
cash flows. We have a 31 year history of increasing
dividend payments to shareholders. Our customers know
they can count on us in 2005 and in the years to come.
This stability allowed us to complete a $400 million
stock repurchase program in 2004, returning cash to our
shareholders while maintaining the flexibility to invest in
and grow our business.
OUR CUSTO MERS SAY:
4
4
00 01 02 03 04
793
1,068
956
2,032
2,337
00 01 02 03 04
3,088
3,479 3,410
CENTURYTEL 2004 ANNUAL REPORT