Chesapeake Energy 2010 Annual Report Download - page 79

Part II
ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities
Price Range of Common Stock and Dividends
Our common stock trades on the New York Stock Exchange under the symbol “CHK”. The following table
sets forth, for the periods indicated, the high and low sales prices per share of our common stock as reported
by the New York Stock Exchange and the amount of cash dividends declared per share:
Common Stock Dividend
DeclaredHigh Low
Year ended December 31, 2010:
Fourth Quarter ................................................. $ 26.15 $ 21.12 $ 0.075
Third Quarter .................................................. $ 22.65 $ 20.04 $ 0.075
Second Quarter ................................................ $ 25.36 $ 20.75 $ 0.075
First Quarter ................................................... $ 28.97 $ 22.37 $ 0.075
Year ended December 31, 2009:
Fourth Quarter ................................................. $ 30.00 $ 22.06 $ 0.075
Third Quarter .................................................. $ 29.49 $ 16.92 $ 0.075
Second Quarter ................................................ $ 24.66 $ 16.43 $ 0.075
First Quarter ................................................... $ 20.13 $ 13.27 $ 0.075
At February 24, 2011, there were approximately 2,050 holders of record of our common stock and
approximately 398,250 beneficial owners.
While we expect to continue to pay dividends on our common stock, the payment of future cash dividends
is subject to the discretion of our Board of Directors and will depend upon, among other things, our financial
condition, our funds from operations, the level of our capital and development expenditures, our future
business prospects, contractual restrictions and other factors considered relevant by the Board of Directors.
In addition, our corporate revolving bank credit facility contains a restriction on our ability to declare and
pay cash dividends on our common or preferred stock if an event of default has occurred. The certificates of
designation for our preferred stock prohibit payment of cash dividends on our common stock unless we have
declared and paid (or set apart for payment) full accumulated dividends on the preferred stock.
Purchases of Common Stock
The following table presents information about repurchases of our common stock during the three months
ended December 31, 2010:
Period
Total Number
of Shares
Purchased(a)
Average
Price Paid
Per Share(a)
Total
Number of
Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs
Maximum
Number of
Shares That
May Yet Be
Purchased
Under the
Plans or
Programs(b)
October 1, 2010 through October 31,
2010 ............................... 206,562 $ 21.90 — —
November 1, 2010 through November 30,
2010 ............................... 8,331 $ 21.37 — —
December 1, 2010 through December 31,
2010 ............................... 12,909 $ 25.92 — —
Total ............................. 227,802 $ 23.06 — —
(a) Represents the deemed surrender to the company of 4,389 shares of common stock to pay the exercise
price and withholding taxes in connection with the exercise of employee stock options and the surrender to
the company of 223,413 shares of common stock to pay withholding taxes in connection with the vesting
of employee restricted stock.
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