World Fuel Services 2002 Annual Report Download - page 19

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PART II
Item 5. Market for Registrant’s Common Equity and Related Stockholder Matters
Our common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol INT. In May 2001, our
Board of Directors approved a resolution to delist our stock from the Pacific Stock Exchange. In August 2002, we
completed the process to remove our stock listing from the Pacific Stock Exchange.
The following table sets forth, for each quarter within the nine months ended December 31, 2002, and the years ended
March 31, 2002 and 2001, the closing sales prices of our common stock as reported by the NYSE and the quarterly cash
dividends per share of common stock declared during the periods indicated.
Cash
Price Dividends
High Low Per Share
Nine Months Ended December 31, 2002
April 2002 to June 2002 24.40$ 19.00$ 0.075$
July 2002 to September 2002 23.88 18.70 0.075
October 2002 to December 2002 23.89 19.10 0.075
Year ended March 31, 2002
April 2001 to June 2001 12.70$ 8.95$ 0.175$
July 2001 to September 2001 13.60 8.71 0.075
October 2001 to December 2001 18.90 10.05 0.075
January 2002 to March 2002 19.97 16.08 0.075
Year ended March 31, 2001
April 2000 to June 2000 8.88$ 6.56$ 0.050$
July 2000 to September 2000 9.44 7.38 0.050
October 2000 to December 2000 8.13 6.19 0.050
January 2001 to March 2001 9.70 7.38 0.050
In December 2001, we obtained a new credit facility from a different bank. Our former credit facility agreement
restricted the payment of cash dividends to a maximum of 25% of net income for the preceding four quarters. Our new
credit facility agreement restricts the payment of cash dividends to a maximum of 35% of net income for the preceding four
quarters. The payments of the above dividends were in compliance with the former credit facility agreement from April
2001 to September 2001, and with the new credit facility from October 2001 to December 2002. For additional information,
see Note 3 to the accompanying consolidated financial statements and “Liquidity and Capital Resources” in “Item 7 –
Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
As of March 13, 2003, there were 244 shareholders of record of our common stock, and the closing price of our stock on
the NYSE was $19.92. On February 26, 2003, our Board of Directors approved a quarterly cash dividend of $0.075 per
share for 2003.
Common Stock Grants
During the nine months ended December 31, 2002 and the years ended March 31, 2002, 2001 and 2000, we issued 3,500
shares, 3,000 shares, 2,500 shares, and 2,000 shares, respectively, of our common stock to our non-employee directors
pursuant to a stock grant program whereby each non-employee director is given an annual stock grant of 500 shares of our
common stock. In September 2002, two non-employee directors received an additional common stock grant of 300 shares.
In January 2001, we issued an additional 1,000 shares of our common stock to one non-employee director. These additional
common stock grants were for additional services performed by such individuals for the Board of Directors committees.
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