Capital Stock

12 Months Ended

Jan. 02, 2016

Equity [Abstract]

Capital Stock

Note 14: 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 723,000 shares, 680,000 shares and 926,000 shares in 2015, 2014 and 2013, respectively. As of 2015 year end, Snap-on has remaining availability to repurchase up to an additional $230.6 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 2015, 2014 and 2013 totaled $127.9 million, $107.6 million and $92.0 million, respectively. Cash dividends per share in 2015, 2014 and 2013 were $2.20, $1.85 and $1.58, respectively. On February 11, 2016, the company’s Board declared a quarterly dividend of $0.61 per share, payable on March 10, 2016, to shareholders of record on February 25, 2016.