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STOCK REPURCHASE PROGRAM AND DIVIDEND
3 Months Ended
May 04, 2014
STOCK REPURCHASE PROGRAM AND DIVIDEND

NOTE F. STOCK REPURCHASE PROGRAM AND DIVIDEND

Stock Repurchase Program

During the thirteen weeks ended May 4, 2014, we repurchased 840,761 shares of our common stock at an average cost of $63.41 per share for a total cost of approximately $53,309,000 under our current $750,000,000 stock repurchase program. As of May 4, 2014, we held treasury stock of $2,889,000 which represents the cost of shares available for issuance in certain foreign jurisdictions as a result of future stock award exercises or releases.

During the thirteen weeks ended May 5, 2013, we repurchased 800,882 shares of our common stock at an average cost of $51.41 per share for a total cost of approximately $41,174,000.

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.

 

Dividend

We declared cash dividends of $0.33 and $0.31 per common share during the thirteen weeks ended May 4, 2014 and May 5, 2013, respectively.