Item 5. — MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
7K characters. Original on sec.gov · Markdown
Item 5. — MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
The Company’s common stock trades on the NYSE under the symbol “LVS.” The following table sets forth the high and low sales prices for the common stock on the NYSE for the fiscal quarter indicated:
| High | Low | |||||||
| 2010 | ||||||||
| First Quarter | $ | 22.49 | $ | 14.88 | ||||
| Second Quarter | $ | 27.84 | $ | 18.08 | ||||
| Third Quarter | $ | 35.90 | $ | 20.73 | ||||
| Fourth Quarter | $ | 55.47 | $ | 34.61 | ||||
| 2011 | ||||||||
| First Quarter | $ | 51.05 | $ | 36.05 | ||||
| Second Quarter | $ | 48.25 | $ | 37.23 | ||||
| Third Quarter | $ | 50.49 | $ | 36.08 | ||||
| Fourth Quarter | $ | 49.44 | $ | 36.20 | ||||
| 2012 | ||||||||
| First Quarter (through February 21, 2012) | $ | 54.00 | $ | 41.77 |
As of February 21, 2012, there were 734,061,465 shares of our common stock issued and outstanding that were held by 456 stockholders of record.
Dividends
Our ability to declare and pay dividends on our common stock is subject to the requirements of Nevada law. In addition, we are a parent company with limited business operations of our own. Accordingly, our primary sources of cash are dividends and distributions with respect to our ownership interest in our subsidiaries that are derived from the earnings and cash flow generated by our operating properties.
Our subsidiaries’ long-term debt arrangements place restrictions on their ability to pay cash dividends to the Company. This may restrict our ability to pay cash dividends other than from cash on hand. See “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Restrictions on Distributions” and “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 9 — Long-Term Debt.”
As part of a regular cash dividend program, on January 31, 2012, our Board of Directors declared a quarterly cash dividend of $0.25 per common share to be paid on March 30, 2012, to shareholders of record on March 20, 2012. Our Board of Directors will continue to periodically assess the level and appropriateness of any cash dividends.
Our preferred stock dividend activity is as follows (in thousands):
| Preferred Stock | ||||||||||||||
| Dividends Paid to | Preferred Stock | Total Preferred | ||||||||||||
| Board of Directors’ | Principal | Dividends Paid to | Stock | |||||||||||
| Declaration Date | Payment Date | Stockholder’s Family | Public Holders | Dividends Paid | ||||||||||
| February 5, 2009 | February 17, 2009 | $ | 13,125 | $ | 11,347 | $ | 24,472 | |||||||
| April 30, 2009 | May 15, 2009 | 13,125 | 10,400 | 23,525 | ||||||||||
| July 31, 2009 | August 17, 2009 | 13,125 | 10,225 | 23,350 | ||||||||||
| October 30, 2009 | November 16, 2009 | 13,125 | 10,225 | 23,350 | ||||||||||
| $ | 94,697 | |||||||||||||
| February 5, 2010 | February 16, 2010 | $ | 13,125 | $ | 10,225 | $ | 23,350 | |||||||
| May 4, 2010 | May 17, 2010 | 13,125 | 10,225 | 23,350 | ||||||||||
| July 29, 2010 | August 16, 2010 | 13,125 | 10,225 | 23,350 | ||||||||||
| November 2, 2010 | November 15, 2010 | 13,125 | 10,225 | 23,350 | ||||||||||
| $ | 93,400 | |||||||||||||
| February 1, 2011 | February 15, 2011 | $ | 13,125 | $ | 6,473 | $ | 19,598 | |||||||
| May 5, 2011 | May 16, 2011 | 13,125 | 6,094 | 19,219 | ||||||||||
| August 4, 2011 | August 15, 2011 | 13,125 | 6,015 | 19,140 | ||||||||||
| November 4, 2011 | November 15, 2011 | 13,125 | 4,215 | 17,340 | ||||||||||
| $ | 75,297 | |||||||||||||
Table of Contents
As further described in “Item 8 — Financial Statements and Supplementary Data — Notes to Consolidated Financial Statements — Note 10 — Equity — Preferred Stock and Warrants — Redemption of Preferred Stock,” we redeemed all of the preferred shares outstanding on November 15, 2011.
Recent Sales of Unregistered Securities
There have not been any sales by the Company of equity securities in the last fiscal year that have not been registered under the Securities Act of 1933.
Performance Graph
The following performance graph compares the performance of our common stock with the performance of the Standard & Poor’s 500 Index and the Dow Jones US Gambling Index, during the five years ended December 31, 2011. The graph plots the changes in value of an initial $100 investment over the indicated time period, assuming all dividends are reinvested. The stock price performance in this graph is not necessarily indicative of future stock price performance.

| Cumulative Total Return | ||||||||||||||||||||||||
| 12/31/06 | 12/31/07 | 12/31/08 | 12/31/09 | 12/31/10 | 12/31/11 | |||||||||||||||||||
| Las Vegas Sands Corp. | $ | 100.00 | $ | 115.17 | $ | 6.63 | $ | 16.70 | $ | 51.35 | $ | 47.75 | ||||||||||||
| S&P 500 | $ | 100.00 | $ | 105.49 | $ | 66.46 | $ | 84.05 | $ | 96.71 | $ | 98.75 | ||||||||||||
| Dow Jones US Gambling Index | $ | 100.00 | $ | 114.80 | $ | 30.87 | $ | 48.08 | $ | 83.23 | $ | 77.37 |
The performance graph should not be deemed filed or incorporated by reference into any other Company filing under the Securities Act of 1933 or the Exchange Act of 1934, except to the extent the Company specifically incorporates the performance graph by reference therein.
Table of Contents
Previous: Item 4. — MINE SAFETY DISCLOSURES · Next: Item 6. — SELECTED FINANCIAL DATA