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Subsequent Events
12 Months Ended
Apr. 24, 2015
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On April 24, 2015, the Board of Directors approved and management committed to a plan to close 20 underperforming restaurants in fiscal 2016. We closed 18 of those restaurants in the first quarter and the remaining two are expected to close before the end of fiscal 2016. See Notes 4 and 5 for additional information.
On May 21, 2015, the Board of Directors approved a quarterly cash dividend of $0.31 per share. The quarterly cash dividend was paid on June 15, 2015, to shareholders of record at the close of business on June 1, 2015.
On May 11, 2015, we entered into a Second Amendment to the Credit Agreement. The amendment has an effective date of April 24, 2015. See Note 2 for additional information.
From April 25, 2015, through June 1, 2015, we repurchased 1.1 million shares, or $50,000 of Company stock. The purchases were funded through additional borrowings on our Credit Agreement.