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COMMON STOCK
 6 Months Ended
Jun. 29, 2013
Stockholders' Equity Note [Abstract]  
COMMON STOCK
COMMON STOCK:

Share Repurchases

In the second quarter of fiscal 2013, the Company's Board of Directors approved a $300 million share repurchase authorization, including amounts remaining under the previous authorizations. During the fiscal quarter and two fiscal quarters ended June 29, 2013, the Company repurchased and retired shares in the following amounts:
 
Number of shares repurchased
 
Aggregate cost of shares repurchased (in millions)
 
Average price per share
Shares repurchased and retired in Q1 2013
156,600

 
$
8.9

 
$
57.10

Shares repurchased and retired in Q2 2013
433,402

 
$
28.8

 
$
66.49

Shares repurchased and retired through June 29, 2013
590,002

 
$
37.8

 
$
63.99



The total capacity under the repurchase authorization as of June 29, 2013, was approximately $283.6 million. The authorization has no expiration date.

The Company did not purchase any shares of its common stock during the first two fiscal quarters ended June 30, 2012.

Dividend

In the second fiscal quarter of 2013, the Company's Board of Directors authorized a quarterly cash dividend of $0.16 per share paid on June 14, 2013, for shareholders of record at the close of business on May 31, 2013. Future declarations of quarterly dividends and the establishment of future record and payment dates are at the discretion of the Company's Board of Directors based on a number of factors, including the Company's future financial performance and other investment priorities.

Provisions in the Company's senior credit facility currently require the Company to continue to maintain a lease adjusted leverage ratio of less than or equal to 3.50:1.00 and availability under the facility of at least $50 million (as well as to not have any defaults) in order to pay dividends or repurchase common stock. These requirements could have the effect of restricting the Company’s ability to pay future cash dividends on or make future repurchases of its common stock.