Stock Repurchase and Dividends

6 Months Ended

Apr. 01, 2018

Stock Repurchase and Dividends

Stock Repurchase and Dividends

Stock Repurchase and Dividends

On November 7, 2016, the Board of Directors authorized a new stock repurchase program under which we could repurchase up to $200 million of our common stock. In the first half of fiscal 2018, we repurchased through open market purchases under this program a total of 1,020,033 shares at an average price of $49.02 for a total cost of $50.0 million.

On November 7, 2017, the Board of Directors declared a quarterly cash dividend of $0.10 per share payable on December 15, 2017 to stockholders of record as of the close of business on November 30, 2017. On January 29, 2018, the Board of Directors declared a quarterly cash dividend of $0.10 per share payable on March 2, 2018 to stockholders of record as of the close of business on February 14, 2018. Dividends totaling $11.2 million and $10.3 million were paid in the first half of fiscal 2018 and 2017, respectively.

Subsequent Event.  On April 30, 2018, the Board of Directors declared a quarterly cash dividend of $0.12 per share payable on June 1, 2018 to stockholders of record as of the close of business on May 16, 2018.