Part II

Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Holders of Common Stock, Stock Price and Dividend Information

Our common stock is listed on the New York Stock Exchange under the symbol AGL. At January 29, 2010, there were 9,553 record holders of our common stock. Quarterly information concerning our high and low stock prices and cash dividends paid in 2009 and 2008 is as follows:

Sales price of common stock
Cash dividend per common share
Quarter ended:
March 31, 2009
June 30, 2009
September 30, 2009
December 31, 2009
March 31, 2008
June 30, 2008
September 30, 2008
December 31, 2008

We have historically paid dividends to common shareholders four times a year: March 1, June 1, September 1 and December 1. We have paid 248 consecutive quarterly dividends beginning in 1948. Our common shareholders may receive dividends when declared at the discretion of our Board of Directors. See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Cash Flow from Financing Activities – Dividends on Common Stock.” Dividends may be paid in cash, stock or other form of payment, and payment of future dividends will depend on our future earnings, cash flow, financial requirements and other factors, some of which are noted below. In certain cases, our ability to pay dividends to our common shareholders is limited by the following:

• our ability to satisfy our obligations under certain financing agreements, including debt-to-capitalization covenants
• our ability to satisfy our obligations to any future preferred shareholders

Under Georgia law, the payment of cash dividends to the holders of our common stock is limited to our legally available assets and subject to the prior payment of dividends on any outstanding shares of preferred stock. Our assets are not legally available for paying cash dividends if, after payment of the dividend:

• we could not pay our debts as they become due in the usual course of business, or
• our total assets would be less than our total liabilities plus, subject to some exceptions, any amounts necessary to satisfy (upon dissolution) the preferential rights of shareholders whose preferential rights are superior to those of the shareholders receiving the dividends

Issuer Purchases of Equity Securities

The following table sets forth information regarding purchases of our common stock by us and any affiliated purchasers during the three months ended December 31, 2009. Stock repurchases may be made in the open market or in private transactions at times and in amounts that we deem appropriate. However, there is no guarantee as to the exact number of additional shares that may be repurchased, and we may terminate or limit the stock repurchase program at any time. We currently anticipate holding the repurchased shares as treasury shares.

Total number of shares purchased(1) (2)
Average price paid per 2) common share
Total number of shares purchased as part of publicly announced plans or programs(2)
Maximum number of shares that may yet be purchased under the publicly announced plans or programs(2)
October 2009
$ —
November 2009
December 2009
Total fourth quarter
(1)On March 20, 2001, our Board of Directors approved the purchase of up to 600,000 shares of our common stock in the open market to be used for issuances under the Officer Incentive Plan (Officer Plan). We purchased 3,000 shares for such purposes in the fourth quarter of 2009. As of December 31, 2009, we had purchased a total 327,860 of the 600,000 shares authorized for purchase, leaving 272,140 shares available for purchase under this program.

(2)On February 3, 2006, we announced that our Board of Directors had authorized a plan to repurchase up to a total of 8 million shares of our common stock, excluding the shares remaining available for purchase in connection with the Officer Plan as described in note (1) above, over a five-year period.