Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Our common stock was listed on the New York Stock Exchange under the symbol “LYV” on December 21, 2005. There were 4,608 stockholders of record as of February 20, 2013. This figure does not include an estimate of the indeterminate number of beneficial holders whose shares may be held of record by brokerage firms and clearing agencies. The following table presents the high and low sales prices of the common stock on the New York Stock Exchange during the calendar quarter indicated.
| Common Stock Market Price | ||||||||
| High | Low | |||||||
| 2011 | ||||||||
| First Quarter | $ | 11.96 | $ | 9.82 | ||||
| Second Quarter | $ | 11.59 | $ | 9.70 | ||||
| Third Quarter | $ | 12.44 | $ | 7.66 | ||||
| Fourth Quarter | $ | 9.88 | $ | 7.14 | ||||
| 2012 | ||||||||
| First Quarter | $ | 11.00 | $ | 8.54 | ||||
| Second Quarter | $ | 9.90 | $ | 8.10 | ||||
| Third Quarter | $ | 9.76 | $ | 8.37 | ||||
| Fourth Quarter | $ | 9.69 | $ | 8.16 |
Dividend Policy
Since the Separation and through December 31, 2012, we have not declared or paid any dividends. We presently intend to retain any future earnings to finance the expansion of our business. Therefore, we do not expect to pay any cash dividends in the foreseeable future. Moreover, the terms of our senior secured credit facility limit the amount of funds that we will have available to declare and distribute as dividends on our common stock. Payment of future cash dividends, if any, will be at the discretion of our board of directors in accordance with applicable law after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs, plans for expansion and contractual restrictions with respect to the payment of dividends.
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