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Shareholders' Equity
6 Months Ended
Jun. 28, 2019
Stockholders Equity Note [Abstract]  
Shareholders' Equity

8. Shareholders’ Equity

Stock Appreciation Rights (“SARs”)

As of June 28, 2019, the Company had 2.9 million SARs outstanding with an exercise price of $4.00 per share and an expiration date of February 2022.           

Treasury Stock

Under the Company’s share repurchase plan, the Company may repurchase shares of its outstanding common stock either on the open market or through privately negotiated transactions subject to market conditions and trading restrictions. During the three months and six months ended June 28, 2019, the Company repurchased 92 thousand and 193 thousand shares, respectively, of its common stock at an average price of $15.59 and $15.80 per share, respectively, for a total cost of $1.4 million and $3.1 million, respectively.  As of June 28, 2019, the Company had a total authorization remaining of $3.9 million under its repurchase plan with a  total authorization of $142.2 million.    

During the six months ended June 29, 2018, the Company repurchased 53 thousand shares of its common stock at an average price of $18.33  per share for a total cost of $1.0 million.    

The shares repurchased under the share repurchase plan during the quarter and six months ended June 28, 2019, do not include 825 shares and 124 thousand shares, respectively, which the Company bought back to satisfy employee net vesting obligations for a cost of $14 thousand and $2.4 million, respectively.     During the quarter and six months ended June 29, 2018, the Company bought back 11 thousand and 184 thousand shares, respectively, at a cost of $0.2 million and $3.1 million, respectively, to satisfy employee net vesting obligations.       

Dividend Program

In early 2019, the Company increased the 2019 annual dividend from $0.34 per share to $0.36 per share to be paid on a semi-annual basis. During the second quarter of 2019, the Company declared its semi-annual dividend of $0.18 per share, which was paid on July 10, 2019, for a total of $5.8 million.     These dividends were paid from U.S. domestic sources and are accounted for as an increase to accumulated deficit.