Note 7: Stockholders’ Equity

Preferred Stock

The Company has authorized 2,000,000 shares of undesignated preferred stock with a par value of $0.001 per share. None of the preferred shares were issued and outstanding at December 29, 2017 and December 30, 2016.

Dividends

The Company declared and paid cash dividends per common share during the periods presented as follows:

	Fiscal Year 2017
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.21	$	5,374
Second Quarter	$	0.21		5,424
Third Quarter	$	0.21		5,424
Fourth Quarter	$	0.21		5,416
			$	21,638

	Fiscal Year 2016
	Dividends		Amount
	Per Share		(in thousands)
First Quarter	$	0.18	$	4,628
Second Quarter	$	0.18		4,675
Third Quarter	$	0.18		4,659
Fourth Quarter	$	0.18		4,607
			$	18,569

On February 1, 2018 the Company’s Board of Directors announced a cash dividend of $0.26 per share of the Company’s common stock, payable March 23, 2018, to stockholders of record as of March 2, 2018. The Company expects to continue paying quarterly dividends in the future, subject to declaration by the Company’s Board of Directors.

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $5,667,000, $5,791,000 and $4,943,000 were recorded as a reduction to retained earnings during fiscal 2017, 2016 and 2015, respectively.

Repurchase of Common Stock

The Company repurchased 186,000 shares of its common stock for $11,931,000 during fiscal year 2017. The Company repurchased 491,000 shares of its common stock for $24,456,000 during fiscal year 2016. The Company repurchased 530,000 shares of its common stock for $23,314,000 during fiscal year 2015. On October 18, 2016 the Board of Directors authorized $35,000,000 for the repurchase of Exponent’s common stock. On October 20, 2015 the Board of Directors authorized $35,000,000 for the repurchase of Exponent’s common stock. On May 29, 2014 the Board of Directors authorized $35,000,000 for the repurchase of Exponent’s common stock. These repurchase programs have no expiration dates. As of December 29, 2017, the Company had remaining authorization under its stock repurchase plan of $45,376,000 to repurchase shares of common stock.