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Stock Repurchase and Dividends | 9 Months Ended
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Jun. 28, 2015
Stock Repurchase and Dividends. |
Stock Repurchase and Dividends | 6.Stock Repurchase and Dividends In June 2013, our Board of Directors authorized a stock repurchase program under which we could repurchase up to $100 million of our common stock. Stock repurchases could be made on the open market or in privately negotiated transactions with third parties. From the inception of this program through September 28, 2014, we repurchased through open market purchases a total of 3.9 million shares at an average price of $25.59 per share, for a total cost of $100 million. On November 10, 2014, the Board of Directors authorized a new stock repurchase program under which we may repurchase up to $200 million of our common stock over the next two years. In the first nine months of fiscal 2015, we repurchased through open market purchases a total of 3.0 million shares at an average price of $25.15, for a total cost of $75.5 million under this new repurchase program. On November 10, 2014, the Board of Directors declared a quarterly cash dividend of $0.07 per share to stockholders of record as of the close of business on November 26, 2014. On January 26, 2015, the Board of Directors declared a quarterly cash dividend of $0.07 per share to stockholders of record as of the close of business on February 11, 2015. On April 27, 2015, the Board of Directors declared a quarterly cash dividend of $0.08 per share payable on May 29, 2015 to stockholders of record as of the close of business on May 14, 2015. A total of $13.4 million was paid in dividends for the first nine months of fiscal 2015. Subsequent Event. On July 27, 2015, the Board of Directors declared a quarterly cash dividend of $0.08 per share payable on September 4, 2015 to stockholders of record as of the close of business on August 17, 2015.

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