Health Net 2006 Annual Report Download - page 45

PART II
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities.
The following table sets forth the high and low sales prices of the Company’s common stock, par value
$.001 per share, on The New York Stock Exchange, Inc. (“NYSE”) since January 2005.
High Low
Calendar Quarter—2005
First Quarter ....................................................... $32.96 $27.63
Second Quarter ..................................................... $39.27 $32.14
Third Quarter ....................................................... $47.47 $37.35
Fourth Quarter ...................................................... $52.92 $44.07
Calendar Quarter—2006
First Quarter ....................................................... $54.11 $45.64
Second Quarter ..................................................... $50.95 $37.10
Third Quarter ....................................................... $48.82 $39.92
Fourth Quarter ...................................................... $49.26 $40.70
On February 23, 2007, the last reported sales price per share of our common stock was $54.50 per share.
Securities Authorized for Issuance Under Equity Compensation Plans
Information regarding the Company’s equity compensation plans is contained in Part III of this Annual
Report on Form 10-K under “Item 12. Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters.”
Holders of Common Stock
As of February 23, 2007, there were 1,889 holders of record of our common stock.
Dividends
We have not paid any dividends on our common stock during the preceding two fiscal years. We have no
present intention of paying any dividends on our common stock, although the matter will be periodically
reviewed by our Board of Directors.
We are a holding company and, therefore, our ability to pay dividends depends on distributions received
from our subsidiaries, which are subject to regulatory net worth requirements and additional state regulations
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 our Board of Directors and depends upon our
earnings, financial position (including cash position), capital requirements and such other factors as our Board of
Directors deems relevant.
Under our revolving credit facility, term loan agreement and bridge loan agreement, we cannot declare or
pay cash dividends to our stockholders or purchase, redeem or otherwise acquire shares of our capital stock or
warrants, rights or options to acquire such shares for cash except to the extent permitted under the revolving
credit facility, which is described in “Item 7. Management’s Discussion and Analysis of Financial Condition and
Results of Operations—Liquidity and Capital Resources.”
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