part ii item 5 . market for registrant 2019s common equity and related stockholder matters recent sales of unregistered securities during the fourth quarter of 2003 , aes issued an aggregated of 20.2 million shares of its common stock in exchange for $ 20 million aggregate principal amount of its senior notes . the shares were issued without registration in reliance upon section 3 ( a ) ( 9 ) under the securities act of 1933 . market information our common stock is currently traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018aes . 2019 2019 the following tables set forth the high and low sale prices for our common stock as reported by the nyse for the periods indicated . price range of common stock .
holders as of march 3 , 2004 , there were 9026 record holders of our common stock , par value $ 0.01 per share . dividends under the terms of our senior secured credit facilities , which we entered into with a commercial bank syndicate , we are not allowed to pay cash dividends . in addition , under the terms of a guaranty we provided to the utility customer in connection with the aes thames project , we are precluded from paying cash dividends on our common stock if we do not meet certain net worth and liquidity tests . our project subsidiaries 2019 ability to declare and pay cash dividends to us is subject to certain limitations contained in the project loans , governmental provisions and other agreements that our project subsidiaries are subject to . see item 12 ( d ) of this form 10-k for information regarding securities authorized for issuance under equity compensation plans. .
2003 High Low 2002 High Low
First Quarter $4.04 $2.72 First Quarter $17.84 $4.11
Second Quarter 8.37 3.75 Second Quarter 9.17 3.55
Third Quarter 7.70 5.91 Third Quarter 4.61 1.56
Fourth Quarter 9.50 7.57 Fourth Quarter 3.57 0.95
2003 first quarter high $ 4.04 low $ 2.72 2002 first quarter high $ 17.84 low $ 4.11
second quarter 8.37 3.75 second quarter 9.17 3.55
third quarter 7.70 5.91 third quarter 4.61 1.56
fourth quarter 9.50 7.57 fourth quarter 3.57 0.95
in q1 2003 , what was the average of the high and low stock price?