UPS 2013 Annual Report Download - page 33

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21
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 2013 and 2012. Our
class B common stock is listed on the New York Stock Exchange under the symbol “UPS”.
High Low Close Dividends
Declared
2013:
First Quarter $ 85.92 $ 75.03 $ 85.90 $ 0.62
Second Quarter $ 89.96 $ 81.95 $ 86.48 $ 0.62
Third Quarter $ 92.10 $ 85.18 $ 91.37 $ 0.62
Fourth Quarter $ 105.35 $ 88.46 $ 105.08 $ 0.62
2012:
First Quarter $ 81.79 $ 72.15 $ 80.72 $ 0.57
Second Quarter $ 80.97 $ 72.19 $ 78.76 $ 0.57
Third Quarter $ 80.52 $ 71.18 $ 71.57 $ 0.57
Fourth Quarter $ 76.20 $ 69.56 $ 73.73 $ 0.57
As of February 4, 2014, there were 155,789 and 18,243 record holders of class A and class B common stock, respectively.
The policy of our Board of Directors is to declare dividends out of current earnings. The declaration of dividends is
subject to the discretion of the Board of Directors and will depend on various factors, including our net income, financial
condition, cash requirements, future prospects, and other relevant factors.
On February 13, 2014, our Board declared a dividend of $0.67 per share, which is payable on March 11, 2014 to
shareowners of record on February 24, 2014. This represents an 8% increase from the previous $0.62 quarterly dividend in
2013.
On February 14, 2013, the Board of Directors approved a share repurchase authorization of $10.0 billion, which replaced
an authorization previously announced in 2012. The new share repurchase authorization has no expiration date. We anticipate
repurchasing approximately $2.7 billion of shares in 2014.
A summary of repurchases of our class A and class B common stock during the fourth quarter of 2013 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 6.9 $ 99.80 6.4 $ 7,179
November 1—November 30 1.2 100.87 0.7 7,106
December 1—December 31 3.0 102.51 2.9 6,814
Total October 1—December 31 11.1 $ 100.65 10.0
(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.