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STOCKHOLDERS' EQUITY
3 Months Ended
Aug. 26, 2018
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY

15.   STOCKHOLDERS’ EQUITY

 

Dividends

 

During the thirteen weeks ended August 26, 2018, we paid $28.0 million of dividends to stockholders.

 

On August 31, 2018, we paid $28.0 million of dividends to stockholders of record as of the close of business on August 3, 2018.

 

On September 26, 2018, our Board of Directors declared a dividend of $0.19125 per share of common stock. The dividend will be paid on November 30, 2018 to stockholders of record as of the close of business on November 2, 2018.

 

Accumulated Other Comprehensive Income (Loss) (“AOCI”)

 

Comprehensive income includes net income, currency translation adjustments, and changes in prior service cost and net actuarial gains (losses) from pension and post-retirement plans. We generally deem our foreign investments to be indefinite in nature and we do not provide for taxes on currency translation adjustments arising from converting the investment denominated in a foreign currency to the U.S. dollar. If we determine that a foreign investment, as well as undistributed earnings, are no longer indefinite in nature, estimated taxes are provided for the related deferred tax liability (asset), if any, resulting from currency translation adjustments.

 

The following table details the accumulated balances for each component of other comprehensive income (loss), net of tax (except for currency translation adjustments) (dollars in millions). Amounts in parenthesis indicate losses.

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

Accumulated

 

 

Currency 

 

Pension and 

 

Other

 

 

Translation 

 

Post-Retirement

 

Comprehensive

 

    

Gains (Losses)

    

Benefits

    

Loss

Balance as of May 27, 2018

 

$

(1.2)

  

$

(3.1)

  

$

(4.3)

Other comprehensive income before reclassifications, net of tax

 

 

(4.3)

 

 

 —

 

 

(4.3)

Amounts reclassified out of AOCI, net of tax

 

 

 —

 

 

0.1

 

 

0.1

Net current-period other comprehensive income (loss)

 

 

(4.3)

  

 

0.1

 

 

(4.2)

Balance as of August 26, 2018

 

$

(5.5)

  

$

(3.0)

  

$

(8.5)

 

The net amount of settlement losses on pension and post-retirement benefits included in AOCI to be amortized over the next 12 months is a net loss of $0.7 million ($0.5 million after-tax).