Shareholders' equity

3 Months Ended

Sep. 29, 2018

Shareholders' equity

Shareholders' equity

10. Shareholders’ equity

Share repurchase program

In August 2018, the Company’s Board of Directors authorized a $500 million increase in the Company’s existing share repurchase program. With this increase, the Company’s may repurchase up to $2.45 billion of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors such as share price, corporate and regulatory requirements, and prevailing market conditions. During the three months ended September 29, 2018, the Company repurchased 3.3 million under this program for a total cost of $156.9 million. As of September 29, 2018, the Company had $615.2 million remaining under its share repurchase authorization.

Common stock dividend

In August 2018, the Company’s Board of Directors approved a dividend of $0.20 per common share and dividend payments of $22.9 million were made in September 2018.