Dividends

3 Months Ended

Mar. 02, 2025

Dividends [Abstract]

DIVIDENDS

DIVIDENDS

Dividends are declared at the discretion of the Board. In January 2025 and 2024, the Company declared cash dividends of $0.13 and $0.12 per share, respectively, to holders of record of its Class A and Class B common stock. During the three months ended March 2, 2025, dividends were paid in the amount of $51.4 million compared to $47.9 million for the same prior-year period.

The Company does not have an established dividend policy. The Board reviews the Company’s ability to pay dividends on an ongoing basis and establishes the dividend amount based on the Company’s financial condition, results of operations, capital requirements, current and projected cash flows and other factors, and any restrictions related to the terms of the Company’s debt agreements.

Subsequent to the Company’s quarter end, the Board declared a cash dividend of $0.13 per share to holders of record of its Class A and Class B common stock at the close of business on April 24, 2025, for a total quarterly dividend of approximately $51 million.