Mercury Insurance 2008 Annual Report Download - page 35

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25
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Price Range of Common Stock
The Company’ s common stock is traded on the New York Stock Exchange (symbol: MCY). The following table shows
the high and low sales price per share in each quarter during the past two years as reported in the consolidated transaction
reporting system.
2008 High Low
1st Quarter $ 50.06 $ 42.28
2nd Quarter $ 52.64 $ 44.42
3rd Quarter $ 62.00 $ 43.66
4th Quarter $ 56.47 $ 36.11
2007 High Low
1st Quarter $ 54.94 $ 50.48
2nd Quarter $ 59.06 $ 52.78
3rd Quarter $ 58.48 $ 50.57
4th Quarter $ 56.30 $ 48.76
The closing price of the Company’ s common stock on February 17, 2009 was $31.24.
Dividends
Since the public offering of its common stock in November 1985, the Company has paid regular quarterly dividends on
its common stock. During 2008 and 2007, the Company paid dividends on its common stock of $2.32 and $2.08 per share,
respectively. On February 6, 2009, the Board of Directors declared a $0.58 quarterly dividend payable on March 31, 2009 to
shareholders of record on March 16, 2009.
For financial statement purposes, the Company records dividends on the declaration date. The Company expects to
continue the payment of quarterly dividends; however, the continued payment and amount of cash dividends will depend upon,
among other factors, the Company’ s operating results, overall financial condition, capital requirements and general business
conditions.
For a discussion of certain restrictions on the payment of dividends to Mercury General by some of its insurance
subsidiaries, see “Item 1. Business—Regulation—Holding Company Act” and Note 8 of Notes to Consolidated Financial
Statements.
Shareholders of Record
The approximate number of holders of record of the Company’ s common stock as of February 17, 2009 was 161.