Shareholders’ Equity


(a)	Cash Dividends on Shares of Common Stock

During the three months ended October 28, 2017, the Company declared and paid cash dividends of $0.29 per common share, or $1.4 billion, on the Company’s outstanding common stock. During the three months ended October 29, 2016, the Company declared and paid cash dividends of $0.26 per common share, or $1.3 billion, on the Company’s outstanding common stock.

Any future dividends will be subject to the approval of the Company's Board of Directors.


(b)	Stock Repurchase Program

In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of October 28, 2017, the Company’s Board of Directors had authorized an aggregate repurchase of up to $112 billion of common stock under this program, and the remaining authorized repurchase amount was $10.1 billion with no termination date. A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):



	Shares Repurchased	Weighted- Average Price per Share		Amount Repurchased
Cumulative balance at July 29, 2017	4,709	$	21.30	$	100,303
Repurchase of common stock under the stock repurchase program ⁽¹⁾	51	31.80		1,620
Cumulative balance at October 28, 2017	4,760	$	21.41	$	101,923

⁽¹⁾ There were no stock repurchases pending settlement as of October 28, 2017. There were $66 million of stock repurchases that were pending settlement as of July 29, 2017.

The purchase price for the shares of the Company’s stock repurchased is reflected as a reduction to shareholders’ equity. The Company is required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings and (ii) a reduction of common stock and additional paid-in capital.


(c)	Restricted Stock Unit Withholdings

For the three months ended October 28, 2017 and October 29, 2016, the Company repurchased approximately 11 million and 13 million shares, or $342 million and $401 million of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock or stock units.

(d) Preferred Stock

Under the terms of the Company’s Articles of Incorporation, the Board of Directors may determine the rights, preferences, and terms of the Company’s authorized but unissued shares of preferred stock.