part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities . the company 2019s common stock is listed on the new york stock exchange . prior to the separation of alcoa corporation from the company , the company 2019s common stock traded under the symbol 201caa . 201d in connection with the separation , on november 1 , 2016 , the company changed its stock symbol and its common stock began trading under the symbol 201carnc . 201d on october 5 , 2016 , the company 2019s common shareholders approved a 1-for-3 reverse stock split of the company 2019s outstanding and authorized shares of common stock ( the 201creverse stock split 201d ) . as a result of the reverse stock split , every three shares of issued and outstanding common stock were combined into one issued and outstanding share of common stock , without any change in the par value per share . the reverse stock split reduced the number of shares of common stock outstanding from approximately 1.3 billion shares to approximately 0.4 billion shares , and proportionately decreased the number of authorized shares of common stock from 1.8 billion to 0.6 billion shares . the company 2019s common stock began trading on a reverse stock split-adjusted basis on october 6 , 2016 . on november 1 , 2016 , the company completed the separation of its business into two independent , publicly traded companies : the company and alcoa corporation . the separation was effected by means of a pro rata distribution by the company of 80.1% ( 80.1 % ) of the outstanding shares of alcoa corporation common stock to the company 2019s shareholders . the company 2019s shareholders of record as of the close of business on october 20 , 2016 ( the 201crecord date 201d ) received one share of alcoa corporation common stock for every three shares of the company 2019s common stock held as of the record date . the company retained 19.9% ( 19.9 % ) of the outstanding common stock of alcoa corporation immediately following the separation . see disposition of retained shares in note c to the consolidated financial statements in part ii item 8 of this form 10-k . the following table sets forth , for the periods indicated , the high and low sales prices and quarterly dividend amounts per share of the company 2019s common stock as reported on the new york stock exchange , adjusted to take into account the reverse stock split effected on october 6 , 2016 . the prices listed below for those dates prior to november 1 , 2016 reflect stock trading prices of alcoa inc . prior to the separation of alcoa corporation from the company on november 1 , 2016 , and therefore are not comparable to the company 2019s post-separation prices. .

2017 high (1): first: 30.69
second: 28.65
third: 26.84
fourth ( separation occurred on november 1 2016 ): 27.85
year: 30.69
2017 low (1): first: 18.64
second: 21.76
third: 22.67
fourth ( separation occurred on november 1 2016 ): 22.74
year: 18.64
2017 dividend: first: 0.06
second: 0.06
third: 0.06
fourth ( separation occurred on november 1 2016 ): 0.06
year: 0.24
2017 high (2): first: 30.66
second: 34.5
third: 32.91
fourth ( separation occurred on november 1 2016 ): 32.1
year: 34.5
2017 low (2): first: 18.42
second: 26.34
third: 27.09
fourth ( separation occurred on november 1 2016 ): 16.75
year: 16.75
dividend: first: 0.09
second: 0.09
third: 0.09
fourth ( separation occurred on november 1 2016 ): 0.09
year: 0.36

the number of holders of record of common stock was approximately 12271 as of february 16 , 2018. .

Questions:
what is the ratio of common stock outstanding shares post split to prior?
what is 1 less that quotient?

Answers:
0.3076
69.24%