Capital Stock

12 Months Ended

Jan. 01, 2022

Equity [Abstract]

Capital Stock

Capital Stock

Snap-on has undertaken repurchases of Snap-on common stock from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans, stock awards and other corporate purposes. Snap-on repurchased 1,943,900 shares, 1,109,000 shares and 1,495,000 shares in 2021, 2020 and 2019, respectively. As of 2021 year end, Snap-on has remaining availability to repurchase up to an additional $454.9 million in common stock pursuant to Board authorizations. The purchase of Snap-on common stock is at the company’s discretion, subject to prevailing financial and market conditions.

Cash dividends paid in 2021, 2020 and 2019 totaled $275.8 million, $243.3 million and $216.6 million, respectively. Cash dividends per share in 2021, 2020 and 2019 were $5.11, $4.47 and $3.93, respectively. On February 10, 2022, the company’s Board declared a quarterly dividend of $1.42 per share, payable on March 10, 2022, to shareholders of record on February 23, 2022.