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Stockholders' Equity
 12 Months Ended
Jan. 03, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

Note 8: 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 January 3, 2025 and December 29, 2023.

Dividends

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

 

 

 

Fiscal Year

 

 

 

2024

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.280

 

 

$

14,159

 

Second Quarter

 

$

0.280

 

 

 

14,193

 

Third Quarter

 

$

0.280

 

 

 

14,212

 

Fourth Quarter

 

$

0.280

 

 

 

14,226

 

 

 

 

 

$

56,790

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

 

2023

 

 

 

Dividends

 

 

Amount

 

 

 

Per Share

 

 

(in thousands)

 

First Quarter

 

$

0.260

 

 

$

13,169

 

Second Quarter

 

$

0.260

 

 

 

13,217

 

Third Quarter

 

$

0.260

 

 

 

13,177

 

Fourth Quarter

 

$

0.260

 

 

 

13,148

 

 

 

 

 

$

52,711

 

Treasury Stock

Net losses related to the re-issuance of treasury stock to settle restricted stock unit and stock option awards of $720,000, $1,009,000 and $1,392,000 were recorded as a reduction to retained earnings during 2024, 2023 and 2022, respectively.

Repurchase of Common Stock

The Company repurchased 74,000 shares of its common stock for $5,710,000 during 2024. The Company repurchased 288,000 shares of its common stock for $24,208,000 during 2023. The Company repurchased 1,756,000 shares of its common stock for $155,856,000 during 2022. On February 1, 2024, the Board of Directors authorized $61,600,000 for the repurchase of the Company’s common stock. On February 22, 2022, the Board of Directors authorized $150,000,000 for the repurchase of the Company’s common stock. These repurchase programs have no expiration dates. As of January 3, 2025, the Company had remaining authorization under its stock repurchase plan of $94,290,000 to repurchase shares of common stock.