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Note 9 - Shareholders' Equity
3 Months Ended
May 27, 2017
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
9
) Shareholders’ Equity
 
The Company has authorization to make repurchases from time to time in the open market or through other parameters approved by the Board of Directors pursuant to existing rules and regulations.
 
Between
December 
2004
and
September 2015,
the Company’s Board of Directors authorized, through several share repurchase programs, the repurchase of
$11.950
billion of its shares of common stock. The Company also acquires shares of its common stock to cover employee related taxes withheld on vested restricted stock and performance stock unit awards. In the
first
three
months of fiscal
2017,
the Company repurchased approximately
3.3
million shares of its common stock for a total cost of approximately
$127.3
million, bringing the aggregate total of common stock repurchased to approximately
196.5
million shares for a total cost of approximately
$10.3
billion since the initial authorization in
December 
2004.
The Company has approximately
$1.6
billion remaining of authorized share repurchases as of
May 27, 2017.
 
During fiscal
2016,
the Company’s Board of Directors authorized a quarterly dividend program. Quarterly dividends of
$0.125
per share in each quarter, totaling
$0.50
per share for fiscal
2016
were declared by the Company’s Board of Directors, of which
$0.375
per share was paid in fiscal
2016.
On
April 5, 2017,
the Company’s Board of Directors declared a quarterly dividend of
$0.15
per share to be paid on
July 18, 2017
to shareholders of record at the close of business on
June 16, 2017.
Subsequent to the end of the
first
quarter of fiscal
2017,
on
June 22, 2017,
the Company’s Board of Directors declared a quarterly dividend of
$0.15
per share to be paid on
October 17, 2017
to shareholders of record as of the close of business on
September 15, 2017.
The Company expects to pay quarterly cash dividends on its common stock in the future, subject to the determination by the Board of Directors, based on an evaluation of the Company’s earnings, financial condition and requirements, business conditions and other factors.
 
Cash dividends, if any, are accrued as a liability on the Company’s consolidated balance sheets and recorded as a decrease to additional paid-in capital when declared.