part ii item 5 .
market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our class a common stock on the new york stock exchange ( nyse ) for the years 2004 and 2003. .

2004
high
low
quarter ended march 31
$ 13.12
$ 9.89
quarter ended june 30
16.00
11.13
quarter ended september 30
15.85
13.10
quarter ended december 31
18.75
15.19
2003
high
low
quarter ended march 31
$ 5.94
$ 3.55
quarter ended june 30
9.90
5.41
quarter ended september 30
11.74
8.73
quarter ended december 31
12.00
9.59

on march 18 , 2005 , the closing price of our class a common stock was $ 18.79 per share as reported on the as of march 18 , 2005 , we had 230604932 outstanding shares of class a common stock and 743 registered holders .
in february 2004 , all outstanding shares of our class b common stock were converted into shares of our class a common stock on a one-for-one basis pursuant to the occurrence of the 201cdodge conversion event 201d as defined in our charter .
our charter prohibits the future issuance of shares of class b common stock .
also in february 2004 , all outstanding shares of class c common stock were converted into shares of class a common stock on a one-for-one basis .
our charter permits the issuance of shares of class c common stock in the future .
the information under 201csecurities authorized for issuance under equity compensation plans 201d from the definitive proxy statement is hereby incorporated by reference into item 12 of this annual report .
dividends we have never paid a dividend on any class of common stock .
we anticipate that we may retain future earnings , if any , to fund the development and growth of our business .
the indentures governing our 93 20448% ( 20448 % ) senior notes due 2009 , our 7.50% ( 7.50 % ) senior notes due 2012 , and our 7.125% ( 7.125 % ) senior notes due 2012 prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants .
our borrower subsidiaries are generally prohibited under the terms of the credit facility , subject to certain exceptions , from making to us any direct or indirect distribution , dividend or other payment on account of their limited liability company interests , partnership interests , capital stock or other equity interests , except that , if no default exists or would be created thereby under the credit facility , our borrower subsidiaries may pay cash dividends or make other distributions to us in accordance with the credit facility within certain specified amounts and , in addition , may pay cash dividends or make other distributions to us in respect of our outstanding indebtedness and permitted future indebtedness .
the indentures governing the 12.25% ( 12.25 % ) senior subordinated discount notes due 2008 and the 7.25% ( 7.25 % ) senior subordinated notes due 2011 of american towers , inc .
( ati ) , our principal operating subsidiary , prohibit ati and certain of our other subsidiaries that have guaranteed those notes ( sister guarantors ) from paying dividends and making other payments or distributions to us unless certain .

Question: for the quarter ended june 30 what was the percentage change in the share price from he lowest to the highest
Answer: 43.8%

Question: what is the growth rate in the price of shares from the lowest value during the quarter ended december 31 , 2004 and the closing price on march 18 , 2005?
Answer: 23.7%