Shareholders' equity

3 Months Ended

Sep. 28, 2024

Shareholders' equity

Shareholders' equity

9. Shareholders’ equity

Share repurchase program

In August 2024, the Company’s Board of Directors approved an increase in the Company’s existing share repurchase plan. With this increase, the Company is authorized to repurchase up to an aggregate of $600 million of common stock. During the first quarter of fiscal 2025, the Company repurchased 1.9 million shares for a total cost of $99.0 million, excluding excise tax. As of September 28, 2024, the Company had $566.6 million remaining under its increased share repurchase authorization.

Common stock dividend

In August 2024, the Company’s Board of Directors approved a dividend of $0.33 per common share and dividend payments of $28.9 million were made in September 2024.