STOCKHOLDERS' EQUITY

3 Months Ended

Aug. 27, 2023

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

11.   STOCKHOLDERS’ EQUITY

Share Repurchase Program

Our Board of Directors authorized a program, with no expiration date, to repurchase up to $500.0 million of our common stock. During the thirteen weeks ended August 27, 2023, we repurchased 992,365 shares for an aggregate purchase price of $100.0 million, or a weighted-average price of $100.77 per share. As of August 27, 2023, $123.9 million remained authorized for repurchase under the program.

Dividends

During the thirteen weeks ended August 27, 2023, we paid $40.8 million of dividends to our common stockholders. On September 1, 2023, we paid $40.8 million of dividends to stockholders of record as of the close of business on August 4, 2023. On September 28, 2023, our Board of Directors declared a dividend of $0.28 per share of our common stock. This dividend will be paid on December 1, 2023, to stockholders of record as of the close of business on November 3, 2023.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss), net of taxes, as of August 27, 2023 were as follows:

	Foreign						Accumulated
	Currency		Pension and				Other
	Translation		Post-Retirement				Comprehensive
(in millions)	Losses		Benefits		Other		Loss
Balance as of May 28, 2023	$	(27.1)	$	(0.7)	$	1.0	$	(26.8)
Other comprehensive income before reclassifications, net of tax		1.2		(0.2)		—		1.0
Net current-period other comprehensive income		1.2		(0.2)		—		1.0
Balance as of August 27, 2023	$	(25.9)	$	(0.9)	$	1.0	$	(25.8)