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STOCK REPURCHASE PROGRAM AND DIVIDEND POLICY
6 Months Ended
Jul. 29, 2012
STOCK REPURCHASE PROGRAM AND DIVIDEND POLICY

NOTE G. STOCK REPURCHASE PROGRAM AND DIVIDEND POLICY

Stock Repurchase Program

In January 2012, our Board of Directors authorized a stock repurchase program to purchase up to $225,000,000 of our common stock. During the thirteen weeks ended July 29, 2012, we repurchased 884,763 shares under this program at an average cost of $35.43 per share and a total cost of $31,343,000. During the twenty-six weeks ended July 29, 2012, we repurchased 2,529,271 shares under this program at an average cost of $36.80 per share and a total cost of $93,076,000. As of July 29, 2012, there remains an aggregate of $62,500,000 available for repurchases under this program.

Stock repurchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.

During the thirteen weeks ended July 31, 2011, we repurchased 806,282 shares of our common stock at an average cost of $38.75 per share and a total cost of $31,246,000. During the twenty-six weeks ended July 31, 2011, we repurchased 1,566,508 shares of our common stock at an average cost of $39.90 per share and a total cost of $62,496,000 under programs previously authorized by our Board of Directors.

Dividend Policy

Our quarterly cash dividend was $0.22 per common share for the thirteen weeks ended July 29, 2012. Our quarterly cash dividend may be limited or terminated at any time.