Shareholders' Equity

12 Months Ended

Mar. 28, 2015

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Repurchase Program

On December 9, 2011, the Board of Directors authorized a share repurchase program totaling $20.0 million to acquire shares of the Company’s outstanding common stock. The repurchases are to be made at management’s discretion in the open market or in privately negotiated transactions in compliance with applicable securities laws and other legal requirements and are subject to market conditions, share price and other factors.

The following table provides information with respect to share repurchases by the Company during 2015 and 2014.

Fiscal Year	Total number of shares purchased	Average price paid per share	Total value of shares repurchased (in millions)	Maximum value of shares that may yet be purchased under the program (in millions)
2015	207,738	$7.01	$1.5	$18.3
2014	19,832	$9.65	$0.2	$19.8

In the first quarter of 2015 the Company repurchased 207,738 shares for $1.5 million in cash under this authorization at an average price of $7.01 per share, calculated inclusive of commissions and fees. The Company did not repurchase any shares during the subsequent quarters of 2015. In 2014 the Company repurchased 19,832 shares for $0.2 million at an average price of $9.65 per share.

The Company has repurchased a total of 227,570 shares to date under this authorization as a part of its publicly announced plan. Any cash used to settle repurchase transactions is reflected as a component of cash used in financing activities on the Consolidated Statements of Cash Flows. There is no fixed completion date for the repurchase program.

Dividends

In February 2015, the Board of Directors suspended the quarterly dividend which was adopted by the Company in December 2011. The Company paid dividends in the first three quarters of 2015 under the 2011 dividend policy. The following table summarizes the quarterly dividends declared and paid by us in 2015 and 2014:

Date Declared	Record Date	Payable Date	Amount per Share
November 18, 2014	December 1, 2014	December 15, 2014	$0.08
August 21, 2014	September 2, 2014	September 12, 2014	$0.08
May 15, 2014	May 27, 2014	June 10, 2014	$0.08
February 13, 2014	February 27, 2014	March 13, 2014	$0.08
November 7, 2013	November 19, 2013	December 4, 2013	$0.08
August 8, 2013	August 19, 2013	September 3, 2013	$0.08
May 14, 2013	June 5, 2013	June 19, 2013	$0.08

The Company paid aggregate dividends of $7.3 million and $9.6 million in 2015 and 2014, respectively.