Stamps.com 2004 Annual Report Download - page 17

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15
PART II.
ITEM 5. MARKET FOR THE REGISTRANT’S COMMON STOCK AND RELATED
STOCKHOLDER MATTERS
Market Information
Our common stock is traded on The Nasdaq National Market under the symbol “STMP”. The following
table sets forth the range of high and low closing sales prices reported on The Nasdaq National Market for our
common stock for the periods indicated (adjusted to give retroactive effect resulting from our stock dividend and
reverse stock split as discussed below):
High Low
Fiscal 2003
First Quarter $ 5.48 $ 4.44
Second Quarter $ 7.16 $ 4.64
Third Quarter $ 8.58 $ 6.10
Fourth Quarter $ 9.50 $ 7.16
Fiscal 2004
First Quarter $ 13.00 $ 9.18
Second Quarter $ 14.78 $ 10.19
Third Quarter $ 17.47 $ 9.06
Fourth Quarter $ 16.00 $ 12.93
In January 2004, the Board of Directors declared a return of capital cash dividend of $1.75 per share to
stockholders of record as of the close of business on February 9, 2004, which was paid on February 23, 2004. Based
on 45,045,514 (22,522,757 shares after the 1:2 reverse split in May 2004) common shares outstanding, less treasury
stock of approximately 648,000 (324,000 shares after the 1:2 reverse split) on the date of record, February 9, 2004,
the total cash dividend was approximately $78 million.
In April 2004, following stockholder approval, the Board of Directors authorized a reverse stock split of
our common stock with a ratio of one-for-two (1:2), effective for all shares beginning on May 12, 2004. As a result,
every 2 shares of our common stock were combined into one share. We paid cash in lieu of fractional shares.
Recent Share Prices
The following table sets forth the closing sales prices per share of our common stock on The Nasdaq
National Market on (i) December 31, 2004 and (ii) February 18, 2005.
Closing
Price
December 31, 2004 $ 15.84
February 18, 2005 $ 18.07
Holders
As of February 18, 2005, there were approximately 1,277 stockholders of record and approximately
22,509,350 shares of our common stock issued and outstanding.
Dividend Policy
On January 28, 2004 our Board of Directors declared a one-time return of capital cash dividend of $1.75
per share, to stockholders of record as of the close of business on February 9, 2004, which dividend was paid on
February 23, 2004. Future declaration and payment of dividends will be in the discretion of our Board of Directors
and will be dependent upon our future earnings, financial condition and capital requirements though the Board of
Directors does not presently contemplate the payment of additional dividends in the near future.
Securities Authorized for Issuance under Equity Compensation Plans
The information under the caption “Executive Compensation and Related Information,” appearing in the
Proxy Statement, is hereby incorporated by reference. For additional information on our stock incentive plans and
activity, see Note 14 of Notes to Consolidated Financial Statements, included in Part IV, Item 15 of this Report.
Recent Sales of Unregistered Securities
We did not have any unregistered sales of common stock during the quarter ended December 31, 2004.