HollyFrontier 2014 Annual Report Download - page 40

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Table of Content
32
PART II
Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities
Our common stock is traded on the New York Stock Exchange under the trading symbol “HFC.” The following table sets forth
the range of the daily high and low sales prices per share of common stock, dividends declared per share and the trading volume
of common stock for the periods indicated:
Years Ended December 31, High Low Dividends Trading Volume
2014
Fourth quarter $ 46.47 $ 35.31 $ 0.82 152,657,400
Third quarter $ 51.31 $ 42.76 $ 0.82 139,658,000
Second quarter $ 53.42 $ 43.61 $ 0.82 152,909,200
First quarter $ 50.74 $ 43.17 $ 0.80 174,540,200
2013
Fourth quarter $ 50.63 $ 39.65 $ 0.80 230,186,600
Third quarter $ 47.21 $ 38.98 $ 0.80 174,416,900
Second quarter $ 52.87 $ 39.96 $ 0.80 229,246,900
First quarter $ 59.20 $ 42.76 $ 0.80 217,439,700
In September 2014, our Board of Directors approved a $500 million share repurchase program authorizing us to repurchase common
stock in the open market or through privately negotiated transactions. The following table includes repurchases made under this
program during the fourth quarter of 2014.
Period Total Number of
Shares Purchased Average Price
Paid Per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans or
Programs
Maximum Dollar
Value of Shares
that May Yet Be
Purchased under the
Plans or Programs
October 2014 460,000 $ 43.29 460,000 $ 447,928,446
November 2014 80,000 $ 44.35 80,000 $ 444,380,840
December 2014 — $ — — $ 444,380,840
Total for October to December 2014 540,000 540,000
In February 2015, our Board of Directors approved a $500 million share repurchase program, which replaced all existing share
repurchase programs including approximately $425 million remaining under the existing $500 million share repurchase program.
The timing and amount of stock repurchases will depend on market conditions, corporate, regulatory and other relevant
considerations. This program may be discontinued at any time by our Board of Directors.
As of February 9, 2015, we had approximately 124,680 stockholders, including beneficial owners holding shares in street name.
We intend to consider the declaration of a dividend on a quarterly basis, although there is no assurance as to future dividends since
they are dependent upon future earnings, capital requirements, our financial condition and other factors. Our senior notes limit
the payment of dividends at any time we are not rated investment grade by both Moody's and Standard & Poor's. See Note 11
“Debt” in the Notes to Consolidated Financial Statements.