FairPoint Communications 2010 Annual Report Download - page 46
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Table of Contents
Our Common Stock began trading on the NASDAQ under the symbol “FRP” effective as of January 25, 2011. Prior to that time, our Old Common Stock
traded (i) on the Pink Sheets under the symbol “FRCMQ” from October 26, 2009 to January 24, 2011 and (ii) on the NYSE under the symbol “FRP” from
our initial public offering on February 4, 2005 until October 26, 2009, when the NYSE notified us that trading of our Old Common Stock was suspended
immediately as a result of the filing of the Chapter 11 Cases. The last day that our Old Common Stock traded on the NYSE was October 23, 2009. On
November 16, 2009, the NYSE completed its application to the SEC to delist our Old Common Stock.
The following table shows the high and low closing sales prices per share of our Old Common Stock as reported on the Pink Sheets from January 1, 2010
to December 31, 2010 and October 26, 2009 to December 31, 2009, and on the NYSE from January 1, 2009 to October 23, 2009. The stock price
information is based on published financial sources. As a result of the Chapter 11 Cases, on the Effective Date, the Old Common Stock was cancelled.
Accordingly, the prices of the Old Common Stock set forth in the table below are not indicative of the future prices of our Common Stock. The Pink Sheets
quotations set forth below reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not necessarily reflect actual transactions:
First quarter $ 0.07 $ 0.02
Second quarter 0.13 0.03
Third quarter 0.05 0.03
Fourth quarter 0.03 0.02
First quarter $ 3.07 $ 0.36
Second quarter 1.82 0.52
Third quarter 0.92 0.41
Fourth quarter 0.44 0.03
On March 4, 2009, our board of directors voted to suspend our quarterly dividend. Accordingly, no dividends were declared on our Old Common Stock in
2010 or 2009. We currently do not anticipate that we will pay any cash dividends on shares of our Common Stock for the foreseeable future. Any
determination to pay dividends in the future will be at the discretion of our board of directors and will depend upon limitations imposed by orders of state
regulatory authorities, results of operations, financial condition, contractual restrictions relating to indebtedness we may incur, restrictions imposed by
applicable law and other factors our board of directors may deem relevant at the time.
The following table shows the dividends which were paid on our Old Common Stock during 2009:
Fourth quarter 0.25750 December 5, 2008 December 31, 2008 January 16, 2009
As of March 25, 2011, there were approximately 175 holders of record of our Common Stock.
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