Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
Duke Energy's common stock is listed for trading on the New York Stock Exchange. As of February 27, 2004, there were approximately 147,900 common stockholders of record.
Common Stock Data by Quarter
| 2003 | 2002 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividends Per Share |
Stock Price Range (a) | Dividends Per Share |
Stock Price Range (a) | ||||||||||||||
| High | Low | High | Low | ||||||||||||||
| First Quarter | $ | 0.275 | $ | 21.57 | $ | 12.21 | $ | 0.275 | $ | 40.00 | $ | 31.99 | |||||
| Second Quarter | 0.550 | 20.75 | 13.51 | 0.550 | 39.60 | 28.50 | |||||||||||
| Third Quarter | — | 19.70 | 16.75 | — | 31.10 | 17.81 | |||||||||||
| Fourth Quarter | 0.275 | 20.89 | 17.08 | 0.275 | 22.00 | 16.42 | |||||||||||
(a) Stock prices represent the intra-day high and low stock price.
On December 17, 1998, Duke Energy's Board of Directors adopted a shareholder rights plan. Under the terms of the plan, one preference stock purchase right was distributed for each share of common stock outstanding on February 12, 1999, and for each share issued thereafter, subject to adjustment as specified. The NCUC and the PSCSC approved this distribution. The plan is intended to ensure the fair treatment of all shareholders in the event of a hostile takeover attempt and to encourage a potential acquirer to negotiate with the Board of Directors a fair price for all shareholders before attempting a takeover. The adoption of the plan was not in response to any takeover offer or threat. The Corporate Governance Committee of the Board of Directors evaluates the plan at least every three years.