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Subsequent Events
3 Months Ended
Mar. 29, 2020
Subsequent Events  
Subsequent Events

12. Subsequent Events

On May 4, 2020, the Company declared a quarterly dividend of twenty-three cents ($0.23) per share on each outstanding share of Class A common stock and Class B common stock payable on June 15, 2020 to stockholders of record on June 1, 2020.

The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and geographies, including how it will impact its customers and supply chain. However, the Company is unable to predict the impact that the COVID-19 pandemic will have on its future financial condition, results of operations and cash flows due to numerous uncertainties. The Company intends to continue to assess the evolving impact of the COVID-19 pandemic and expects to continue to make adjustments to its responses to address the situation as it develops. Due to the anticipated financial impact of the COVID-19 pandemic on the business, the Company implemented reduction-in-force restructuring actions in April 2020 to realize cost savings for the balance of the year.