Costco 1998 Annual Report Download - page 36

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MERRILL CORPORATION NETWORK COMPOSITION SYSTEM LSTARKE // 9-DEC-98 18:47 DISK004:[98SEA7.98SEA2097]EG2097A.;14
IMAGES:[PAGER.PSTYLES]MRLL.BST;4 pag$fmt:mrll.fmt Free: 1990DM/ 0D Foot: 0D/ 0D VJ R Seq: 1 Clr: 0
COSTCO COMPANIES A/R (Y/E 8-31-98) Proj: P1826SEA98 Job: 98SEA2097 File: EG2097A.;14
Merrill/Seattle (206) 623-5606 Page Dim: 8.250N X 10.750NCopy Dim: 38. X 54.3
MARKET FOR COSTCO COMMON STOCK
Trading in Costco Common Stock commenced on October 22, 1993, as Price/Costco, Inc. quoted on
The Nasdaq Stock Market’s National Market under the symbol ‘‘PCCW’’. On January 29, 1997, the
shareholders of the Company approved a name change to Costco Companies, Inc. The stock is now quoted
on The Nasdaq Stock Market’s National Market under the symbol ‘‘COST.’’
The following table sets forth the closing high and low sales prices of Costco Common Stock for the
period January 1, 1996 through November 30, 1998. The quotations are as reported in published financial
sources.
Costco Common
Stock
High Low
Calendar Quarters—1996
First Quarter .................................... 19
1⁄2143⁄4
Second Quarter .................................. 21
5⁄8171⁄2
Third Quarter ................................... 22
1⁄8193⁄4
Fourth Quarter .................................. 25
5⁄8191⁄8
Calendar Quarters—1997
First Quarter .................................... 30 24
1⁄8
Second Quarter .................................. 35
3⁄16 267⁄8
Third Quarter ................................... 39
1⁄8317⁄16
Fourth Quarter .................................. 44
15⁄16 351⁄8
Calendar Quarters—1998
First Quarter .................................... 58
3⁄16 421⁄8
Second Quarter .................................. 63
7⁄32 513⁄8
Third Quarter ................................... 65 45
1⁄16
Fourth Quarter (through November 30, 1998) ............ 63
3⁄4445⁄16
On November 30, 1998, the Company had 7,692 stockholders of record.
DIVIDEND POLICY
Costco does not pay regular dividends and presently has no plans to declare a cash dividend. Under its
two revolving credit agreements, Costco is generally permitted to pay dividends in any fiscal year up to an
amount equal to 50% of its consolidated net income for that fiscal year.
34
9 C Cs: 40179