Cousins Properties Incorporated 2006 Annual Report - SNL Financial

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PART II Item 5. Market for Registrant’s Common Stock and Related Stockholder Matters Market Information The high and low sales prices for the Company’s common stock and cash dividends declared per common share were as follows: 2006 Quarters 2005 Quarters First Second Third Fourth First Second Third Fourth High ........... $ 33.99 $ 33.49 $ 34.89 $ 38.77 $ 31.24 $ 30.15 $ 33.50 $ 30.75 Low ........... 27.87 29.02 29.64 33.13 25.28 25.36 27.70 27.04 Dividends Declared: Regular . . . . . . . .37 .37 .37 .37 .37 .37 .37 .37 Special ....... — — — 3.40 — — — — Payment Date: Regular . . . . . . . 2/22/06 5/30/06 8/25/06 12/22/06 2/22/05 5/27/05 8/25/05 12/22/05 Special ....... — — — 12/01/06 — — — — Holders The Company’s common stock trades on the New York Stock Exchange (ticker symbol CUZ). At February 23, 2007, there were 1,166 common stockholders of record. Purchases of Equity Securities The following table contains information about the Company’s purchases of its equity securities during the fourth quarter of 2006: Purchases Outside Plan Purchases Inside Plan Total Number of Shares Purchased(1) Average Price Paid per Share(1) Total Number of Shares Purchased as Part of Publicly Announced Plan(2) Maximum Number of Shares That May Yet Be Purchased Under Plan(2) October 1-31 ......... 5,122 $35.76 — 5,000,000 November 1-30 ....... 66,664 35.75 — 5,000,000 December 1-31 ....... 45,890 36.02 — 5,000,000 Total ............. 117,676 $35.86 — 5,000,000 (1) The purchases of equity securities that occurred during the fourth quarter of 2006 related to shares remitted by employees as payment for income taxes due in conjunction with restricted stock grants or option exercises or as payment for option exercises. (2) On May 9, 2006, the Board of Directors of the Company authorized a stock repurchase plan, which expires May 9, 2009, of up to 5,000,000 shares of the Company’s common stock. No purchases were made under this plan in the fourth quarter of 2006. 33
Performance Graph The following graph compares the five-year cumulative total return of Cousins Properties Incorporated Common Stock with the Hemscott Group Index, NYSE Market Index, S&P 500 Index and NAREIT Equity REIT Index. The Hemscott Group Index, formerly the CoreData Group Index, is published by Hemscott PLC and is comprised of publicly-held REITs. The graph assumes a $100 investment in each of the indices on December 31, 2001 and the reinvestment of all dividends. DOLLARS 300 275 250 225 200 175 150 125 100 75 50 25 0 2001 Cousins Properties Incorporated Hemscott Group Index S&P Composite NYSE Market Index NAREIT Equity Index 2002 2003 2004 2005 COMPARISON OF CUMULATIVE TOTAL RETURN OF ONE OR MORE COMPANIES, PEER GROUPS, INDUSTRY INDICES AND/OR BROAD MARKETS Fiscal Year Ended Company/Index/Market 12/31/2001 12/31/2002 12/31/2003 12/31/2004 12/31/2005 12/31/2006 Cousins Properties Incorporated 100.00 107.67 151.41 195.25 192.35 274.99 Hemscott Group Index 100.00 97.13 127.21 169.08 179.02 234.85 S&P Composite 100.00 77.90 100.25 111.15 116.61 135.03 NYSE Market Index 100.00 81.69 105.82 119.50 129.37 151.57 NAREIT Equity Index 100.00 103.82 142.37 187.33 210.12 283.78 34 2006
Page 1 and 2: Outstanding Performance Cousins Pro
Page 3 and 4: FORWARD-LOOKING STATEMENTS Certain
Page 5 and 6: Had significant leasing activity, n
Page 7 and 8: Certain environmental laws impose l
Page 9 and 10: Environmental issues. Environmental
Page 11 and 12: Financing Risks If interest rates o
Page 13 and 14: eceive less cash than the amount of
Page 15 and 16: income, Cousins is subject to tax o
Page 17 and 18: 16 Description and Location Year De
Page 19 and 20: 18 Lease Expirations — Office As
Page 21 and 22: 20 Description and Location Year De
Page 23 and 24: Lease Expirations — Industrial As
Page 25 and 26: Additional Information Related to O
Page 27 and 28: (3) Total Project GLA includes anch
Page 29 and 30: Description Year Commenced Estimate
Page 31 and 32: Description and Location(1) Zoned U
Page 33: Mr. DuPree rejoined the Company in
Page 37 and 38: General and Administrative Expenses
Page 39 and 40: For the foreseeable future, the Com
Page 41 and 42: collectibility of unit purchase pri
Page 43 and 44: Decrease of approximately $1.2 mill
Page 45 and 46: The vesting period for stock option
Page 47 and 48: esidential lot development and land
Page 49 and 50: Stock-Based Compensation. The Compa
Page 51 and 52: capitalization at December 31, 2006
Page 53 and 54: Cash Flows from Investing Activitie
Page 55 and 56: eceivable. The table presents sched
Page 57 and 58: Item 9. Changes in and Disagreement
Page 59 and 60: We have also audited, in accordance
Page 61 and 62: 10(a)(v)* Form of Restricted Stock
Page 63 and 64: SIGNATURES Pursuant to the requirem
Page 65 and 66: Cousins Properties Incorporated IND
Page 67 and 68: COUSINS PROPERTIES INCORPORATED AND
Page 73 and 74: fair values at the date of acquisit
Page 75 and 76: Income Taxes COUSINS PROPERTIES INC
Page 77 and 78: outstanding. The income amounts use
Page 85 and 86:
COUSINS PROPERTIES INCORPORATED AND
Page 87 and 88:
Page 89 and 90:
Company and 28% to GDL, after each
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
The following supplemental pro form
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
14. PROFIT SHARING/401(K) PLAN The
Page 109 and 110:
S-2 Description Encumbrances COUSIN
Page 111 and 112:
S-4 Description Encumbrances COUSIN
Page 113 and 114:
COUSINS PROPERTIES INCORPORATED STA
Page 115 and 116:
Subsidiary State of Incorporation C
Page 117 and 118:
I, Thomas D. Bell, Jr., certify tha
Page 119 and 120:
Exhibit 32.1 CERTIFICATION PURSUANT
Page 121 and 122:
Shareholder Information INDEPENDENT
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