Shareholders' equity

9 Months Ended

Apr. 01, 2017

Shareholders' equity

Shareholders' equity

10. Shareholders’ equity

Share repurchase program

In February 2017, the Company’s Board of Directors authorized a $500.0 million increase in the Company’s existing share repurchase program. During the third quarter and first nine months of fiscal 2017, the Company incurred commitments to repurchase 3.1 million shares under this program for a total cost of $140.1 million.

Common stock dividend

In February 2017, the Company’s Board of Directors approved a dividend of $0.18 per common share and dividend payments of $23.1 million were made in March 2017.