FairPoint Communications 2009 Annual Report Download - page 59

Table of Contents

Set forth below is a line graph comparing the yearly percentage change in the cumulative total stockholder return on shares of our common stock
against (i) the cumulative total return of all companies listed on the S&P 500 and (ii) the cumulative total return of the S&P 500 Telcom sector. The
period compared commences on February 4, 2005 and ends on December 31, 2009. This graph assumes that $100 was invested on February 4, 2005
(the date of the initial public offering of our common stock) in our common stock and in each of the market index and the sector index at the closing
price for the Company and the other companies, and that all cash distributions were reinvested. Our common stock price performance shown on the
graph is not necessarily indicative of future price performance.



Our board of directors had adopted a dividend policy which reflected our intent to return cash to stockholders. On March 4, 2009, our board of
directors voted to suspend our quarterly dividend. We currently do not expect to reinstate the payment of such dividends. Future dividends with respect
to shares of our common stock, if any, will depend on, among other things, our cash flows, cash requirements, financial condition, contractual
restrictions, provisions of applicable law and other factors that our board of directors may deem relevant. In addition, our ability to make dividend
payments in the future is expected to be limited by the orders of the state regulatory authorities approving the Merger as modified in connection with the
Plan and the agreements governing our indebtedness.
55