Visa 2008 Annual Report Download - page 47

Table of Contents
PART II
ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Price Range of Common Stock
Our Class A common stock commenced trading on the New York Stock Exchange under the symbol "V" on March 19, 2008. The following table sets
forth the intra-day high and low sale prices for our class A common stock from March 19, 2008 and for the two full quarterly periods in 2008 following the
Company's IPO, as reported by the New York Stock Exchange. At September 30, 2008, the Company had 295 stockholders of record for its class A common
stock. We believe that the number of beneficial owners is substantially greater than the number of record holders, because a large portion of our class A
common stock is held in "street name" by brokers.
2008 High Low
Second Quarter (from March 19, 2008) $ 69.00 $ 55.00
Third Quarter 89.84 60.31
Fourth Quarter 82.40 55.89
There is currently no established public trading market for our class B common stock, class C (series I), class C (series II), class C (series III) or class C
(series IV) common stock. There were approximately 1,781 and 1,101 holders of record of our class B common stock and class C (series I) common stock,
respectively, as of September 30, 2008. Visa Europe Limited is the holder of record of all the issued and outstanding shares of class C (series II) and class C
(series III) common stock. Visa Europe Services was the holder of record of all the issued and outstanding shares of our class C (series IV) common stock. In
October 2008, we redeemed all of the class C (series II) shares and a portion of the class C (series III) shares held by Visa Europe Limited and all remaining
shares of class C (series III) common stock and all shares of class C (series IV) common stock automatically converted into class C (series I) common stock
on a one-to-one basis.
Dividend Declaration and Policy
On August 29, 2008, we paid quarterly cash dividends, which was declared on June 11, 2008 by our board of directors of $0.105 per share on our class
A common stock (determined in the case of class B and class C common stock on an "as-converted" basis) to all holders of record of our class A common
stock, class B common stock and class C common stock for the third quarter of 2008. However, the declaration and payment of future dividends is at the sole
discretion of our board of directors after taking into account various factors, including our financial condition, settlement guarantees, operating results,
available cash and current and anticipated cash needs. Prior to the IPO, we did not pay any cash dividends on our shares of outstanding common stock.
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