COMMON STOCK

Share Repurchases

In fiscal years prior to 2016, the Company's Board of Directors authorized the repurchase of shares of the Company's common stock in amounts up to $462.5 million. On both February 24, 2016 and February 22, 2018, the Company's Board of Directors authorized an additional $500 million of share repurchases, thereby authorizing repurchase amounts up to $1.46 billion. The total remaining capacity under the repurchase authorizations as of December 29, 2018 was $392.6 million.

Open-market repurchases of our common stock during fiscal years 2018, 2017 and 2016 were as follows:



	Fiscal year ended
	December 29, 2018		December 30, 2017		December 31, 2016
Number of shares repurchased	1,879,529		2,103,401		3,049,381
Aggregate cost of shares repurchased (dollars in thousands)	$	193,028	$	188,762	$	300,445
Average price per share	$	102.70	$	89.74	$	98.53

In addition to the open-market repurchases completed in fiscal years 2018, 2017 and 2016, the Company completed additional open-market repurchases totaling approximately $387.6 million in fiscal year priors to 2016.

Future share repurchases may occur from time to time in the open market, in negotiated transactions, or otherwise. The timing and amount of any repurchases will be determined by the Company based on its evaluation of market conditions, share price, other investment priorities, and other factors. The share repurchase authorizations have no expiration dates.

Dividends

In fiscal 2018, the Company's Board of Directors declared and paid quarterly cash dividends of $0.45 per share during all four quarters. In fiscal 2017, the Company's Board of Directors paid quarterly cash dividends of $0.37 per share during all four quarters.

On February 14, 2019, the Company's Board of Directors authorized a quarterly cash dividend payment of $0.50 per common share, payable on March 22, 2019 to shareholders of record at the close of business on March 12, 2019.

Future declarations of 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 secured revolving credit facility and indenture governing its senior notes could have the effect of restricting the Company’s ability to pay future cash dividends on or make future repurchases of its common stock, as further described in Note 8, Long-Term Debt, to the consolidated financial statements.