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Shareholders' equity
6 Months Ended
Dec. 28, 2019
Shareholders' equity  
Shareholders' equity

10. Shareholders’ equity

Share repurchase program

In August 2019, the Company’s Board of Directors amended the Company’s existing share repurchase program, increasing the cumulative total of authorized share repurchases to $2.95 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 28, 2019, the Company repurchased 2.1 million and 4.8 million shares, respectively, under this program for a total cost of $87.6 million and $199.7 million, respectively. As of December 28, 2019, the Company had $505.7 million remaining under its share repurchase authorization.

Common stock dividend

In November 2019, the Company’s Board of Directors approved a dividend of $0.21 per common share and dividend payments of $21.0 million were made in December 2019. During the six months ended December 28, 2019, the Company paid dividends of $0.42 per common share and $42.4 million in total.