Dividends

6 Months Ended

Jun. 01, 2025

Dividends [Abstract]

DIVIDENDS

DIVIDENDS

Dividends are declared at the discretion of the Board. In both January and April 2025, the Company declared cash dividends of $0.13 per share, to holders of record of its Class A and Class B common stock. In both January and April 2024, the Company declared cash dividends of $0.12 per share to holders of record of its Class A and Class B common stock. During the three and six months ended June 1, 2025, dividends were paid in the amount of $51.4 million and $102.8 million respectively, compared to $47.7 million and $95.6 million, respectively, 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 $0.14 per share to holders of record of its Class A and Class B common stock at the close of business on July 24, 2025, for a total quarterly dividend of approximately $55 million.