XML 66 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Repurchase Programs and Dividends
12 Months Ended
Feb. 02, 2014
Stock Repurchase Programs and Dividends

Note K: Stock Repurchase Programs and Dividends

During fiscal 2013, we repurchased 4,344,962 shares of our common stock at an average cost of $55.07 per share and a total cost of approximately $239,274,000 under our current $750,000,000 stock repurchase program. As of February 2, 2014, we held treasury stock of $3,101,000 which represents the cost of shares available for issuance in certain foreign jurisdictions as a result of future stock award exercises or releases.

During fiscal 2012, we repurchased 3,962,034 shares of our common stock at an average cost of $39.14 per share and a total cost of approximately $155,080,000. During fiscal 2011, we repurchased 5,384,036 shares of our common stock at an average cost of $36.11 per share and a total cost of approximately $194,429,000.

Stock repurchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. This stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.

Dividends

In March 2014, we announced that our Board of Directors had authorized a 6% increase in our quarterly cash dividend, from $0.31 to $0.33 per common share, subject to capital availability. Total cash dividends declared in fiscal 2013, fiscal 2012 and fiscal 2011, were approximately $121,688,000, or $1.24 per common share, $88,452,000, or $0.88 per common share, and $76,308,000, or $0.73 per common share, respectively. Our quarterly cash dividend may be limited or terminated at any time.