Vectren 2012 Annual Report Download - page 33

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31
PART II
ITEM 5. MARKET FOR COMPANY'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER
PURCHASES OF EQUITY SECURITIES
Market Data, Dividends Paid, and Holders of Record
The Company’s common stock trades on the New York Stock Exchange under the symbol ‘‘VVC.’’ For each quarter in 2012 and
2011, the high and low sales prices for the Company’s common stock as reported on the New York Stock Exchange and
dividends paid are presented below.
Cash Common Stock Price Range
Dividend High Low
2012
First Quarter $0.350 $30.69 $28.21
Second Quarter 0.350 30.17 28.03
Third Quarter 0.350 30.75 27.78
Fourth Quarter 0.355 30.25 27.46
2011
First Quarter $0.345 $27.31 $25.33
Second Quarter 0.345 28.84 26.66
Third Quarter 0.345 28.73 23.65
Fourth Quarter 0.350 30.65 25.49
On January 31, 2013 the board of directors declared a dividend of $0.355 per share, payable on March 1, 2013, to common
shareholders of record on February 15, 2013.
As of January 31, 2013, there were 8,860 registered shareholders of the Company’s common stock.
Quarterly Share Purchases
Periodically, the Company purchases shares from the open market to satisfy share requirements associated with the Company’s
share-based compensation plans; however, no such open market purchases were made during the quarter ended December
31, 2012.
Dividend Policy
Common stock dividends are payable at the discretion of the board of directors, out of legally available funds. The Company’s
policy is to distribute approximately 65 percent of earnings over time. On an annual basis, this percentage has varied and could
continue to vary due to short-term earnings volatility. The Company has increased its dividend for 53 consecutive years. While
the Company is under no contractual obligation to do so, it intends to continue to pay dividends and increase its annual dividend
consistent with historical practice. Nevertheless, should the Company’s financial condition, operating results, capital
requirements, or other relevant factors change, future dividend payments, and the amounts of these dividends, will be
reassessed.