Please answer the given financial question based on the context.
Context: part ii item 5 . market for registrant 2019s common equity and related stockholder matters market information our common stock has been traded on the new york stock exchange ( 2018 2018nyse 2019 2019 ) under the symbol 2018 2018exr 2019 2019 since our ipo on august 17 , 2004 . prior to that time there was no public market for our common stock . the following table sets forth , for the periods indicated , the high and low bid price for our common stock as reported by the nyse and the per share dividends declared : dividends high low declared .
||high|low|dividends declared|
|period from august 17 2004 to september 30 2004|$ 14.38|$ 12.50|$ 0.1113|
|quarter ended december 31 2004|14.55|12.60|0.2275|
|quarter ended march 31 2005|14.30|12.55|0.2275|
|quarter ended june 30 2005|14.75|12.19|0.2275|
|quarter ended september 30 2005|16.71|14.32|0.2275|
|quarter ended december 31 2005|15.90|13.00|0.2275|
on february 28 , 2006 , the closing price of our common stock as reported by the nyse was $ 15.00 . at february 28 , 2006 , we had 166 holders of record of our common stock . holders of shares of common stock are entitled to receive distributions when declared by our board of directors out of any assets legally available for that purpose . as a reit , we are required to distribute at least 90% ( 90 % ) of our 2018 2018reit taxable income 2019 2019 is generally equivalent to our net taxable ordinary income , determined without regard to the deduction for dividends paid , to our stockholders annually in order to maintain our reit qualifications for u.s . federal income tax purposes . unregistered sales of equity securities and use of proceeds on june 20 , 2005 , we completed the sale of 6200000 shares of our common stock , $ .01 par value , for $ 83514 , which we reported in a current report on form 8-k filed with the securities and exchange commission on june 24 , 2005 . we used the proceeds for general corporate purposes , including debt repayment . the shares were issued pursuant to an exemption from registration under the securities act of 1933 , as amended. .
Question: what was the dividend yield for the quarter ended march 31 , 2005 using the high bid price?


Answer: The answer is:0.06364