STOCKHOLDERS' EQUITY

3 Months Ended

Aug. 25, 2019

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

14.   STOCKHOLDERS’ EQUITY

Share Repurchase Program

On December 20, 2018, our Board of Directors authorized a program, with no expiration date, to repurchase shares of our common stock in an amount not to exceed $250.0 million in the aggregate, on an opportunistic basis. During the thirteen weeks ended August 25, 2019, we repurchased 72,502 shares for $4.8 million, or a weighted-average price of $66.67 per share.

Dividends

During the thirteen weeks ended August 25, 2019, we paid $29.2 million of dividends to common stockholders. On August 30, 2019, we paid $29.2 million of dividends to stockholders of record as of the close of business on August 2, 2019. On September 26, 2019, our Board of Directors declared a dividend of $0.20 per share of common stock. The dividend will be paid on November 29, 2019 to stockholders of record as of the close of business on November 1, 2019.

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

Changes in AOCI, net of taxes, by component follows (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 26, 2019	$	(20.3)	$	(5.0)	$	(25.3)
Other comprehensive income before reclassifications, net of tax		(9.1)		—		(9.1)
Amounts reclassified out of AOCI, net of tax		—		0.2		0.2
Net current-period other comprehensive income (loss)		(9.1)		0.2		(8.9)
Balance as of August 25, 2019	$	(29.4)	$	(4.8)	$	(34.2)

The net amount of actuarial 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).