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Stock Repurchase and Dividends | 6 Months Ended
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Mar. 27, 2016
Stock Repurchase and Dividends. |
Stock Repurchase and Dividends | 6.Stock Repurchase and Dividends On November 10, 2014, the Board of Directors authorized a stock repurchase program under which we may repurchase up to $200 million of our common stock over the succeeding two years. In the first half of fiscal 2016, we repurchased through open market purchases under this program a total of 1,896,760 shares at an average price of $26.36, for a total cost of $50.0 million. On November 9, 2015, the Board of Directors declared a quarterly cash dividend of $0.08 per share payable on December 11, 2015 to stockholders of record as of the close of business on November 30, 2015. On January 25, 2016, the Board of Directors declared a quarterly cash dividend of $0.08 per share payable on February 26, 2016 to stockholders of record as of the close of business on February 12, 2016. Dividends totaling $9.4 million and $8.6 million were paid in the first half of fiscal 2016 and fiscal 2015, respectively. Subsequent Event. On April 25, 2016, the Board of Directors declared a quarterly cash dividend of $0.09 per share payable on May 27, 2016 to stockholders of record as of the close of business on May 13, 2016.

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