Health Net 2000 Annual Report Download - page 20

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18 HEALTH NET 2000 Annual Report
Market for Registrant’s Common Equity and Related Stockholder Matters
The following table sets forth the high and low sales
prices of the Company’s Class A Common Stock, par
value $.001 per share (the “Class A Common Stock”),
on the New York Stock Exchange, Inc. (“NYSE”) since
January 4, 1999.
High Low
Calendar Quarter – 1999
First Quarter 127⁄16 711⁄16
Second Quarter 201⁄16 1013⁄16
Third Quarter 1615⁄16 87⁄8
Fourth Quarter 101⁄261⁄4
Calendar Quarter – 2000
First Quarter 1111⁄16 75⁄8
Second Quarter 1411⁄16 711⁄16
Third Quarter 189⁄16 131⁄4
Fourth Quarter 2615⁄16 159⁄16
Calendar Quarter – 2001
First Quarter
(through March 7, 2001) 263⁄16 18
On March 7, 2001, the last reported sales price per
share of the Class A Common Stock was $21.08 per share.
dividends
No dividends have been paid by the Company during
the preceding two fiscal years.The Company has no
present intention of paying any dividends on its
Common Stock.
The Company is a holding company and, therefore, its
ability to pay dividends depends on distributions received
from its subsidiaries, which are subject to regulatory net
worth requirements and certain additional state regula-
tions which may restrict the declaration of dividends by
HMOs, insurance companies and licensed managed
health care plans.The payment of any dividend is at the
discretion of the Company’s Board of Directors and
depends upon the Company’s earnings, financial position,
capital requirements and such other factors as the
Company’s Board of Directors deems relevant.
Under the Credit Agreement entered into on July 8,
1997 with Bank of America as agent, the Company can-
not declare or pay cash dividends to its stockholders or
purchase, redeem or otherwise acquire shares of its capital
stock or warrants, rights or options to acquire such shares
for cash except to the extent permitted under such
Credit Agreement as described in the Company’s Annual
Report on Form 10-K.
holders
As of March 7, 2001, there were approximately 1,700
holders of record of Class A Common Stock.