pre_text: 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. .
post_text: 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 .
table: 2004 High Low
table: Quarter ended March 31 $13.12 $9.89
table: Quarter ended June 30 16.00 11.13
table: Quarter ended September 30 15.85 13.10
table: Quarter ended December 31 18.75 15.19
table: 2003 High Low
table: Quarter ended March 31 $5.94 $3.55
table: Quarter ended June 30 9.90 5.41
table: Quarter ended September 30 11.74 8.73
table: Quarter ended December 31 12.00 9.59
question: Analyse this data from a financial earnings document. 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?