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Stock Repurchase and Dividends
12 Months Ended
Sep. 28, 2014
Stock Repurchase and Dividends  
Stock Repurchase and Dividends

3.           Stock Repurchase and Dividends

              In June 2013, our Board of Directors authorized a stock repurchase program (the "Stock Repurchase Program") under which we could repurchase up to $100 million of our common stock. Stock repurchases could be made on the open market or in privately negotiated transactions with third parties. From the inception of the Stock Repurchase Program through September 28, 2014, we repurchased through open market purchases a total of 3.9 million shares at an average price of $25.59 per share, for a total cost of $100 million.

              On April 28, 2014, the Board of Directors declared a quarterly cash dividend of $0.07 per share payable on June 4, 2014 to stockholders of record as of the close of business on May 16, 2014. On July 28, 2014, the Board of Directors declared a quarterly cash dividend of $0.07 per share payable on September 5, 2014 to stockholders of record as of the close of business on August 15, 2014. We paid $9.0 million of cash dividends, or $0.14 per share, for the fiscal year ended September 28, 2014.

              Subsequent Events.    On November 10, 2014, the Board of Directors declared a quarterly cash dividend of $0.07 per share payable on December 15, 2014 to stockholders of record as of the close of business on November 26, 2014. On November 10, 2014, the Board of Directors also authorized a new stock repurchase program under which we may repurchase up to $200 million of our common stock over the next two years.