Shareholders' Equity

3 Months Ended

May 30, 2026

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

We paid dividends totaling $5.6 million ($0.27 per share) in the first three months of fiscal 2027, compared to dividends paid of $5.5 million ($0.26 per share) in the comparable prior year period.

During fiscal 2004, the Board of Directors authorized a share repurchase program allowing us to repurchase shares of our outstanding common stock, with subsequent increases in authorization. During the three months ended May 30, 2026, we repurchased 269,500 shares under the program, for a total of $9.7 million. No shares were repurchased during the three months ended May 31, 2025. We have repurchased a total of 12,721,289 shares, at a total cost of $463.1 million, since the inception of this program in fiscal 2004. We have remaining authority to repurchase 1,528,711 shares under this program, which has no expiration date. We may elect to repurchase additional shares of common stock under our authorization, subject to limitations contained in our debt agreements and based upon our assessment of a number of factors, including share price, trading volume and general market conditions, working capital requirements, general business conditions, financial conditions, any applicable contractual limitations, and other factors, including alternative investment opportunities. We may finance share repurchases with available cash, additional debt or other sources of financing.

Additionally, shares withheld from the vesting of restricted awards, or the settlement of performance-based awards, are treated as purchases and retirements, and are included within other, net in the financing activities section in the Consolidated Statement of Cash Flows.

The Company maintains a Junior Preferred Stock plan, under which 200,000 shares of $1.00 par value junior preferred stock are authorized, with zero shares issued and outstanding as of May 30, 2026.