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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Market Information
Our common stock trades on the NASDAQ Global Select Market under the symbol “WYNN.” The following table sets forth the high and low sale prices for the indicated periods, as reported by the NASDAQ Global Select Market.
| High | Low | |||||||
| Year Ended December 31, 2013 | ||||||||
| First Quarter | $ | 126.98 | $ | 113.39 | ||||
| Second Quarter | $ | 144.99 | $ | 114.41 | ||||
| Third Quarter | $ | 159.85 | $ | 124.57 | ||||
| Fourth Quarter | $ | 194.53 | $ | 155.77 | ||||
| Year Ended December 31, 2012 | ||||||||
| First Quarter | $ | 132.59 | $ | 104.62 | ||||
| Second Quarter | $ | 138.28 | $ | 95.82 | ||||
| Third Quarter | $ | 116.47 | $ | 90.11 | ||||
| Fourth Quarter | $ | 123.64 | $ | 103.34 |
Holders
There were approximately 195 holders of record of our common stock as of February 14, 2014.
Dividends
Wynn Resorts is a holding company and, as a result, our ability to pay dividends is dependent on our ability to obtain funds and our subsidiaries’ ability to provide funds to us. Restrictions imposed by our subsidiaries’ debt instruments significantly restrict certain key subsidiaries holding a majority of our assets, including Wynn Las Vegas, LLC and Wynn Macau, from making dividends or distributions to Wynn Resorts. Specifically, Wynn Las Vegas, LLC and certain of its subsidiaries are restricted under the indentures governing the first mortgage notes from making certain “restricted payments,” as defined in the indentures. These restricted payments include the payment of dividends or distributions to any direct or indirect holders of equity interests of Wynn Las Vegas, LLC. Restricted payments cannot be made unless certain financial and non-financial criteria have been satisfied. In addition, the terms of the other loan agreements of Wynn Las Vegas, LLC and Wynn Macau contain similar restrictions. Our Company has paid the following dividends:
| • | In December 2013, we paid a cash dividend of $3.00 per share. In each of March 2013, June 2013, August 2013 and November 2013, we paid a cash dividend of $1.00 per share. |
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| • | In November 2012, we paid a cash dividend of $8.00 per share. In each of March 2012, June 2012 and August 2012, we paid a cash dividend of $0.50 per share. |
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The Company has increased its quarterly dividend to $1.25 per share in 2014. On January 30, 2014, we announced a cash dividend of $1.25 per share, payable on February 27, 2014 to Stockholders of record as of February 13, 2014. Our Board of Directors will continue to periodically assess the level and appropriateness of any cash dividends.
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