UPS 2007 Annual Report Download - page 31

PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Our Class A common stock is not listed on a national securities exchange or traded in an organized
over-the-counter market, but each share of our Class A common stock is convertible into one share of our Class
B common stock.
The following is a summary of our Class B common stock price activity and dividend information for 2007
and 2006. Our Class B common stock is listed on the New York Stock Exchange under the symbol “UPS.”
High Low Close
Dividends
Declared
2007:
First Quarter ................................................. $75.98 $68.66 $70.10 $0.42
Second Quarter ............................................... $74.48 $69.54 $73.00 $0.42
Third Quarter ................................................ $78.99 $72.70 $75.10 $0.42
Fourth Quarter ............................................... $77.00 $70.00 $70.72 $0.42
2006:
First Quarter ................................................. $80.16 $72.74 $79.38 $0.38
Second Quarter ............................................... $83.99 $77.55 $82.33 $0.38
Third Quarter ................................................ $83.00 $65.50 $71.94 $0.38
Fourth Quarter ............................................... $79.72 $71.95 $74.98 $0.38
As of January 31, 2008, there were 171,519 and 17,454 record holders of Class A and Class B common
stock, respectively.
The policy of our Board of Directors is to declare dividends each year out of current earnings. The
declaration of future dividends is subject to the discretion of the Board of Directors in light of all relevant facts,
including earnings, general business conditions and working capital requirements.
On January 31, 2008, our Board declared a dividend of $0.45 per share, which is payable on March 4, 2008
to shareowners of record on February 11, 2008.
On October 30, 2007, the Board of Directors approved an increase in our share repurchase authorization to
$2.0 billion, which replaced the remaining amount available under our February 2007 share repurchase
authorization. In January 2008, the Board of Directors approved an increase in our share repurchase authorization
to $10.0 billion, as part of a new financial policy. Unless terminated earlier, the program will expire when we
have purchased all shares authorized for repurchase under the program.
A summary of repurchases of our Class A and Class B common stock during the fourth quarter of 2007 is as
follows (in millions, except per share amounts):
Total Number
of Shares
Purchased(1)
Average
Price Paid
Per Share(1)
Total Number
of Shares Purchased
as Part of Publicly
Announced Program
Approximate Dollar
Value of Shares that
May Yet be Purchased
Under the Program
(as of month-end)
October 1—October 31, 2007 .............. 2.1 $75.58 2.1 $ 60
November 1—November 30, 2007 .......... 3.8 72.19 3.8 1,725
December 1—December 31, 2007 .......... 2.2 73.04 2.2 1,566
Total October 1—December 31, 2007 . . . 8.1 $73.31 8.1 $1,566
(1) Includes shares repurchased through our publicly announced share repurchase program and shares tendered
to pay the exercise price and tax withholding on employee stock options.
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