272 UTAH INTERNATIONAL: A BIOGRAPHY OF A BUSINESS Financial Comment Over the past 20 years, Utah's earnings per share, dividends per share, stock market price, and mineral sales backlog each have increased more than 20 times — dramatic growth as illustrated here. It is notable that within this 20-year span, the greatest fiveyear interim earnings growth has taken place during the most recent five-year Earnings per Share délions of dollars 7.00 6.00 As a result of the company’s past emphasis on construction, the mineral sales backlog was virtually nonexistent 20 years ago. Though down modestly from the record amount in 1975, as deliveries exceeded new commitments, the mineral sales backiog stood at $6.12 billion at the end of 1976. The company’s earnings performance over the past 20 years has been well recognized and stockholders have benefited. Since 1956—a year in which Utah's earnings were then the second highest in the company’s history — earnings have grown at a compounded rate of 19%. Reflecting this growth, a purchaser of $1,000 worth of Utah stock in 1956 would have received $4,291 in dividends during the 20-year period, and the stock would have had a value of $42,900 at the end of the 1976 fiscal year. 1956 58 60 62 64 66 68 70 72 74 76 Mi extraordinary toss Dividends per Share Market Prices ; high and low 105 1.20 90 1.00 in 0.80 _ 0.60 45 0.40 30 0.20 15 0 1956 58 60 62 64 66 68 70 72 74 76 al 19956 58 60 62 64 66 68 70 72 74 76 26 By 1976 earnings per share, dividends per share, stock market price, and mineral sales backlog each increased more than twenty times, as shown in Utah International’s final Annual Report.