America Online 2014 Annual Report Download - page 47
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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
AOL’s common stock is listed on the New York Stock Exchange (“NYSE”), under the symbol “AOL.” The
following table presents the quarterly high and low sales prices for the common stock on the NYSE as reported
for each period indicated:
High Low
2013 Quarters Ended:
March 31, 2013 ........................................................... $39.75 $29.16
June 30, 2013 ............................................................. 42.12 33.46
September 30, 2013 ........................................................ 38.48 32.21
December 31, 2013 ........................................................ 46.98 32.19
2014 Quarters Ended:
March 31, 2014 ........................................................... $53.28 $40.52
June 30, 2014 ............................................................. 45.40 32.31
September 30, 2014 ........................................................ 46.79 38.05
December 31, 2014 ........................................................ 48.21 37.50
As of February 24, 2015, there were approximately 14,668 holders of record of our common stock. Because
many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, we are
unable to estimate the total number of stockholders represented by these record holders. The closing price of the
common stock on the NYSE on February 24, 2015 was $40.23.
Repurchases of Equity Securities
On July 28, 2014, the Board approved a stock repurchase program (the “2014 Stock Repurchase Program”),
which authorizes us to repurchase up to $150 million of outstanding shares of common stock from time to time
over the twelve months following the announcement. We did not repurchase any shares in the fourth quarter of
2014 and approximately $110 million remained authorized for stock repurchase under the 2014 Stock
Repurchase Program as of December 31, 2014.
Dividend Policy
On August 26, 2012, we declared the payment of a special, one-time, cash dividend of $5.15 per share to
shareholders of record at the close of business on December 5, 2012 (the “Special Cash Dividend”), which was
paid on December 14, 2012. We have not made additional cash dividends since the Special Cash Dividend and
we do not currently anticipate additional declarations of cash dividends on our common stock in the immediate
future. The declaration of additional cash dividends on our common stock could impact the number of shares of
common stock issuable under the senior convertible notes (“the Notes”).
31