Stock Repurchase Program and Cash Dividends

3 Months Ended

Apr. 29, 2017

Stock Repurchase Program and Cash Dividends

Stock Repurchase Program and Cash Dividends

11. Stock Repurchase Program and Cash Dividends

Repurchases of Common Stock

On April 10, 2017, the Company’s Board of Directors approved a program that authorized the purchase of up to $25.0 million in shares of the Company’s common stock.  There were no repurchases during the quarter ended April 29, 2017.

Dividends

On February 7, 2017, the Company’s Board of Directors declared a dividend of $0.06 per common share, which was paid on March 14, 2017 to stockholders of record as of February 28, 2017.  On May 17, 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share payable on June 13, 2017 to stockholders of record as of May 30, 2017.  Any determination to declare and pay cash dividends for future quarters will be made by the Board of Directors.