Stockholders' Equity

12 Months Ended

Dec. 29, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 8: Stockholders’ Equity

Preferred Stock

The Company has authorized 2,000,000 shares of undesignated preferred stock with a par value of $0.001 per share. None of the preferred shares were issued and outstanding at December 29, 2023 and December 30, 2022.

Dividends

The Company declared and paid cash dividends per share of common stock during the periods presented as follows:

	Fiscal Years
	2023
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.260	$	13,169
Second Quarter	$	0.260		13,217
Third Quarter	$	0.260		13,177
Fourth Quarter	$	0.260		13,148
			$	52,711
	Fiscal Years
	2022
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.240	$	12,383
Second Quarter	$	0.240		12,345
Third Quarter	$	0.240		12,225
Fourth Quarter	$	0.240		12,153
			$	49,106

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $1,009,000, $1,392,000 and $1,679,000 were recorded as a reduction to retained earnings during 2023, 2022 and 2021, respectively.

Repurchase of Common Stock

The Company repurchased 288,000 shares of its common stock for $24,208,000 during 2023. The Company repurchased 1,756,000 shares of its common stock for $155,856,000 during 2022. The Company repurchased 78,000 shares of its common stock for $7,000,000 during 2021. On February 22, 2022, the Board of Directors authorized $150,000,000 for the repurchase of the Company’s common stock. On May 29, 2020, the Board of Directors authorized $45,000,000 for the repurchase of the Company’s common stock. These repurchase programs have no expiration dates. As of December 29, 2023, the Company had remaining authorization under its stock repurchase plan of $38,390,000 to repurchase shares of common stock.