Windstream 2007 Annual Report Download - page 69

Windstream Corporation
Form 10-K, Part II
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to the security holders for a vote during the fourth quarter of 2007.
Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters and Issuer Purchases of
Equity Securities
(a) The outstanding shares of Windstream’s common stock are listed and traded on the New York Stock Exchange
and trade under the symbol WIN. Prior to the merger with Valor on July 17, 2006, the Company’s common stock
was listed and traded on the New York Stock Exchange under the symbol VCG, which was registered to Valor
Communications Group, Inc. subsequent to their initial public offering on February 9, 2005. The following table
reflects the range of high, low and closing prices of Windstream’s (and Valor’s) common stock as reported by
Dow Jones & Company, Inc. for each quarter in 2007 and 2006.
Year Qtr. High Low Close
Dividend
Declared
2007 4th $14.40 $12.38 $13.02 $.25
3rd $15.10 $12.46 $14.12 $.25
2nd $15.30 $14.47 $14.76 $.25
1st $15.63 $13.75 $14.69 $.25
2006 4th $14.43 $13.16 $14.22 $.25
3rd $13.63 $11.13 $13.19 $.20
July 17th $11.63 $11.43 $11.50 $.07 (1)
2nd $13.54 $11.28 $11.45 $.36
1st $13.42 $11.41 $13.16 $.36
(1) On July 17, 2006, Alltel completed the spin off of its wireline telecommunications business to its
stockholders and the merger of that wireline business with Valor. A partial, prorated dividend was declared
by Valor for the period in the third quarter 2006 prior to the merger.
As of February 22, 2008, the approximate number of holders of common stock, including an estimate for those
holding shares in brokers’ accounts, was 173,000.
For a discussion of certain restrictions on the ability of Windstream to pay dividends under its debt instruments,
see “Management’s Discussion and Analysis of Financial Condition and Results of Operations Financial
Condition, Liquidity and Capital Resources” in the Financial Supplement to this annual report on Form 10-K.
(b) Not applicable.
(c) Information pertaining to the repurchase of Windstream shares is included in the table below.
Period
Total Number of
Shares Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
Maximum Number of
Shares (or Approximate
Dollar Value) that May
Yet Be Purchased Under
the Plans
November 30, 2007 19,574,422 (1) $12.95 — —
December 1-31, 2007 3,009,549 (1) $13.29 — —
Total 22,583,971 $13.00 — —
(1) On November 30, 2007 Windstream completed the split off transaction of its directory publishing business in
which Windstream exchanged all the outstanding equity of its publishing business for an aggregate
19,574,422 shares of Windstream common stock. Additionally, as part of the transaction, Windstream was
paid a special cash dividend in an amount of $40.0 million. The proceeds of the special cash dividend were
used to repurchase Windstream common stock.
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