Shareholders' Equity

6 Months Ended

Dec. 28, 2013

Equity [Abstract]

Shareholders' equity

Shareholders' equity

Share repurchase program

In August 2012, the Company’s Board of Directors amended the Company's existing share repurchase program to authorize the repurchase of up to $750.0 million of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares purchased will depend on a variety of factors such as price, corporate and regulatory requirements, and prevailing market conditions. During the first half of fiscal 2014, the Company did not repurchase any shares under this program. Since the beginning of the repurchase program through the end of the first half of fiscal 2014, the Company has repurchased 17,890,000 shares of stock at an aggregate cost of $525.5 million, and $224.5 million remains available for future repurchases under the share repurchase program.

Common stock dividend

In November 2013, the Company's Board of Directors approved a dividend of $0.15 per common share to the shareholders of record on December 3, 2013. Dividend payments of $20.6 million were made in December 2013.

During the six months ended December 28, 2013, the Company has paid dividends of $0.30 per common share and $41.3 million in total.