Regions Bank 2008 Annual Report Download - page 35

PART II
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Regions’ common stock, par value $.01 per share, is listed for trading on the New York Stock Exchange
under the symbol RF. Quarterly high and low sales prices of and cash dividends declared on Regions’ common
stock are set forth in Table 25 “Quarterly Results of Operations” of “Management’s Discussion and Analysis”,
which is included in Item 7. of this Annual Report on Form 10-K. As of February 17, 2009, there were 83,232
holders of record of Regions’ common stock (including participants in the Computershare Investment Plan for
Regions Financial Corporation).
Restrictions on the ability of Regions Bank to transfer funds to Regions at December 31, 2008, are set forth
in Note 15 “Regulatory Capital Requirements and Restrictions” to the consolidated financial statements, which
are included in Item 8. of this Annual Report on Form 10-K. A discussion of certain limitations on the ability of
Regions Bank to pay dividends to Regions and the ability of Regions to pay dividends on its common stock is set
forth in Item 1. “Business” under the heading “Supervision and Regulation—Payment of Dividends” of this
Annual Report on Form 10-K.
The following table presents information regarding issuer purchases of equity securities during the fourth
quarter of 2008.
Period
Total Number
of Shares
Purchased
Average
Price
Paid Per
Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs
Maximum Number
of Shares that May
Yet Be Purchased
Under the Plans or
Programs
October 1, 2008—October 31, 2008 ............ — $— — 23,072,300
November 1, 2008—November 30, 2008 ........ — — — 23,072,300
December 1, 2008—December 31, 2008 ......... — — — 23,072,300
Total ................................. $— 23,072,300
On January 18, 2007, Regions’ Board of Directors assessed the repurchase authorization of Regions and
authorized the repurchase of an additional 50 million shares of Regions’ common stock through open market or
privately negotiated transactions and announced the authorization of this repurchase. As indicated in the table
above, approximately 23.1 million shares remain available for repurchase under the existing plan. As discussed
in the “Supervision and Regulation” section of Item 1. “Business” of this Annual Report on Form 10-K, the
Company’s ability to repurchase its common stock is limited by the terms of the Purchase Agreement between
Regions and the U.S. Treasury. Under the CPP, prior to the earlier of (i) November 14, 2011, or (ii) the date on
which the Series A Preferred Stock is redeemed in whole or the U.S. Treasury has transferred all of the Series A
Preferred Stock to unaffiliated third parties, the consent of the U.S. Treasury is required to repurchase any shares
of common stock except in connection with benefit plans in the ordinary course of business and certain other
limited exceptions.
25