MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS  AND ISSUER PURCHASES OF EQUITY SECURITIES Dividend Policy Issuer Purchases of Equity Securities  Our Class A Common Stock is listed for trading on the NASDAQ stock market under the symbol SBGI. Our Class B  Common Stock is not traded on a public trading market or quotation system. The following tables set forth for the periods  indicated the high and low closing sales prices on the NASDAQ stock market for our Class A Common Stock. As of February 28, 2011, there were approximately 82 shareholders of record of our common stock. This number does not  include beneficial owners holding shares through nominee names. In February 2009, we decided it was prudent to suspend the dividend due to the negative economic climate. Amid  improvements in general economic conditions and in our performance, in November 2010, our Board of Directors declared a  $0.43 per share common stock dividend payable on December 15, 2010 to holders of record on December 1, 2010. In February  2011, our Board of Directors reinstated our dividend policy, declaring a quarterly common stock dividend of $0.12 per share. Future dividends on our common shares, if any, will be at the discretion of our Board of Directors and will depend on several  factors including our results of operations, cash requirements and surplus, financial condition, covenant restrictions and other  factors that the Board of Directors may deem relevant. The Class A Common Stock and Class B Common Stock holders have  the same rights related to dividends. Our Bank Credit Agreement and some of our debt instruments contain restrictions on our  ability to pay dividends. Under our Bank Credit Agreement, in certain circumstances we may make up to $40.0 million in  unrestricted annual cash payments including but not limited to dividends. Under the indentures governing our 9.25% Second  Lien Notes, due 2017 (the 9.25% Notes) and our 8.375% Senior Notes, due 2018 (the 8.375% Notes), we are restricted from  paying dividends on our common stock unless certain specified conditions are satisfied, including that: In addition, under certain of our debt instruments, the payment of dividends is not permissible during a default thereunder.  During the fourth quarter 2010, we repurchased, pursuant to a tender offer, $58.0 million in principal amount of the 6.0%  Convertible Subordinated Debentures, due 2012 (the 6.0% Notes).  $_{•}$  no event of default then exists under each indenture or certain other specified agreements relating to our indebtedness; and  $_{•}$  after taking account of the dividends payment, we are within certain restricted payment requirements contained in  each indenture.  2010 High Low First Quarter  $ 5.78 $ 4.63 Second Quarter  7.79 5.33 Third Quarter  $ 7.38 $ 5.39 Fourth Quarter  $ 8.47 $ 7.12 2009 High Low First Quarter  $  3.86  $  0.89  Second Quarter  $ 2.12 $ 1.04 Third Quarter  $  3.81  $  1.07  Fourth Quarter  $ 5.03 $ 2.95 70    Sinclair Broadcast Group 