Shareholders’ Equity


(a)	Cash Dividends on Shares of Common Stock

We declared and paid cash dividends of $0.33 and $0.29 per common share, or $1.5 billion and $1.4 billion, on our outstanding common stock for the first quarter of fiscal 2019 and fiscal 2018, respectively.

Any future dividends will be subject to the approval of our Board of Directors.


(b)	Stock Repurchase Program

In September 2001, our Board of Directors authorized a stock repurchase program. On February 14, 2018, our Board of Directors authorized a $25 billion increase to the stock repurchase program. As of October 27, 2018, the remaining authorized amount for stock repurchases under this program, including the additional authorization, is approximately $14.0 billion, with no termination date. A summary of the stock repurchase activity for fiscal year 2018 and 2017 under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):



Quarter Ended	Shares	Weighted-Average Price per Share		Amount
Fiscal 2019
October 27, 2018	109	$	46.01	$	5,026

Fiscal 2018
July 28, 2018	138	$	43.58	$	6,015
April 28, 2018	140	$	42.83	$	6,015
January 27, 2018	103	$	39.07	$	4,011
October 28, 2017	51	$	31.80	$	1,620

There were $130 million and $180 million of stock repurchases that were pending settlement as of October 27, 2018 and July 28, 2018, respectively.

The purchase price for the shares of our stock repurchased is reflected as a reduction to shareholders’ equity. We are required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings and (ii) a reduction of common stock and additional paid-in capital.


(c)	Restricted Stock Unit Withholdings

We repurchased approximately 7 million and 11 million shares, or $318 million and $342 million, of common stock in settlement of employee tax withholding obligations due upon the vesting of restricted stock or stock units for each of the first quarter of fiscal 2019 and fiscal 2018, respectively.

(d) Preferred Stock

Under the terms of our Articles of Incorporation, the Board of Directors may determine the rights, preferences, and terms of our authorized but unissued shares of preferred stock.