Shareholders' equity

6 Months Ended

Dec. 29, 2018

Shareholders' equity

Shareholders' equity

10. Shareholders’ equity

Share repurchase program

In August 2018, the Company’s Board of Directors amended the Company’s existing share repurchase program to authorize the repurchase of 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 second quarter and six months ended December 29, 2018, the Company repurchased 4.1 million and 7.4 million shares, respectively, under this program for a total cost of $175.1 million and $332.0 million, respectively. As of December 29, 2018, the Company had $440.1 million remaining under its share repurchase authorization.

Common stock dividend

In November 2018, the Company’s Board of Directors approved a dividend of $0.20 per common share and dividend payments of $21.8 million were made in December 2018. During the six months ended December 29, 2018, the Company paid dividends of $0.40 per common share and $44.7 million in total.