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Stockholders' Equity
 12 Months Ended
Jan. 01, 2021
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 January 1, 2021 and January 3, 2020.

Dividends

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

 

 

 

Fiscal Years

 

 

 

2020

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.190

 

 

$

9,913

 

Second Quarter

 

$

0.190

 

 

 

9,801

 

Third Quarter

 

$

0.190

 

 

 

9,808

 

Fourth Quarter

 

$

0.190

 

 

 

9,839

 

 

 

 

 

 

 

$

39,361

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Years

 

 

 

2019

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.160

 

 

$

8,240

 

Second Quarter

 

$

0.160

 

 

 

8,306

 

Third Quarter

 

$

0.160

 

 

 

8,323

 

Fourth Quarter

 

$

0.160

 

 

 

8,280

 

 

 

 

 

 

 

$

33,149

 

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $4,538,000, $5,146,000 and $5,892,000 were recorded as a reduction to retained earnings during 2020, 2019 and 2018, respectively.

Repurchase of Common Stock

The Company repurchased 636,000 shares of its common stock for $40,049,000 during 2020. The Company repurchased 342,000 shares of its common stock for $21,957,000 during 2019. The Company repurchased 562,000 shares of its common stock for $27,915,000 during 2018. On May 29, 2020, the Board of Directors authorized $45,000,000 for the repurchase of the Company’s common stock. On January 31, 2019 the Board of Directors authorized $75,000,000 for the repurchase of the Company’s common stock. These repurchase programs have no expiration dates. As of January 1, 2021, the Company had remaining authorization under its stock repurchase plan of $75,455,000 to repurchase shares of common stock.