MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED EXHIBIT 13(d)
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STOCKHOLDER MATTERS.
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The Company's common stock trades on the Nasdaq National Market tier of
The Nasdaq Stock Market under the symbol EMCI.
The following table shows the high and low sales prices, as reported by
by Nasdaq, and the dividends paid for each quarter within the two most recent
years.
1998 1997
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High Low Dividends High Low Dividends
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1st Quarter $14 1/2 $12 1/4 $ .15 $12 3/4 $11 1/4 $ .15
2nd Quarter 15 7/8 13 1/4 .15 13 1/2 10 3/4 .15
3rd Quarter 15 11 3/4 .15 15 12 1/2 .15
4th Quarter 13 1/4 9 .15 14 1/4 12 3/4 .15
At December 31 12 3/4 13 1/4
On March 5, 1999, there were approximately 1,374 registered shareholders
of the Company's common stock.
There are certain regulatory restrictions relating to the payment of
dividends by the Company's insurance subsidiaries (see note 6 of Notes to
Consolidated Financial Statements under Item 8 of this Form 10-K). It is the
present intention of the Company's Board of Directors to declare quarterly
cash dividends, but the amount and timing thereof, if any, is to be determined
by the Board of Directors at its discretion.
A dividend reinvestment and common stock purchase plan provides
stockholders with the option of receiving additional shares of common stock
instead of cash dividends. Participants may also purchase additional shares
of common stock without incurring broker commissions by making optional cash
contributions to the plan and may sell shares of common stock through the
plan. See note 13 of Notes to Consolidated Financial Statements under Item 8
of this Form 10-K. During 1998 and 1997, Employers Mutual elected to receive
50 percent of its dividends in common stock under this plan.