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Subsequent Events
6 Months Ended
Oct. 26, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

13. Subsequent Events

The quarterly cash dividend of $0.275 will be paid on December 10, 2012, to shareholders of record at the close of business on November 26, 2012.

On November 30, 2012, the Company provided the agents for the Note Purchase Agreement, dated July 28, 2004, as amended (“2004 Notes”), and the Note Purchase Agreement, dated July 28, 2008, as amended (“2008 Notes”), with a prepayment notice.  Per the terms of the 2004 Notes and the 2008 Notes (collectively, “Private Placement Notes”), notice of prepayment is required at least 30-days, but not more than 60 days, prior to payment.  The Company intends to prepay the Private Placement Notes in full as of December 31, 2012.

        In making this prepayment election, the Company will prepay all amounts outstanding under the Private Placement Notes, consisting of $97,145 in current aggregate principal amount, plus Make-Whole amounts of approximately $7,000 determined in accordance with the provisions of the Private Placement Notes.  The actual amount of the total payments for the Private Placement Notes and the Make-Whole amounts will be determined at the time the Private Placement Notes are repaid, which is expected to be on December 31, 2012. The principal amount of $48,574 would be classified as current debt on November 30, 2012.

Absent its earlier termination, the maturity date of the 2004 Notes and the 2008 Notes would have been July 28, 2016 and July 28, 2014, respectively.

The Company plans on utilizing cash on hand and borrowings on its credit facility to repay the Private Placement Notes.