XML 25 R15.htm IDEA: XBRL DOCUMENT v3.24.3
COMMON STOCK
 9 Months Ended
Sep. 28, 2024
Stockholders' Equity Note [Abstract]  
COMMON STOCK COMMON STOCK
Open Market Share Repurchases
The Company repurchased and retired shares in open market transactions as follows:
Fiscal quarter endedThree fiscal quarters ended
September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Number of shares repurchased(1)
274,535 390,004 736,423 975,358 
Aggregate cost of shares repurchased (dollars in thousands)(2)
$16,749 $27,570 $50,526 $67,492 
Average price per share(2)
$61.01 $70.69 $68.61 $69.20 
(1)Share repurchases were made in compliance with all applicable rules and regulations and in accordance with the share repurchase authorizations.
(2)The aggregate cost of share repurchases and average price paid per share exclude excise tax on share repurchases.
The total aggregate remaining capacity under outstanding repurchase authorizations as of September 28, 2024 was approximately $599.0 million, based on settled repurchase transactions. The share repurchase authorizations have no expiration date.
Future repurchases may occur from time to time in the open market, in privately negotiated transactions, or otherwise. The timing and amount of any repurchases will be at the discretion of the Company subject to restrictions under the Company’s secured revolving credit facility, market conditions, stock price, other investment priorities, and other factors.
Dividends
In each of the first three quarters of fiscal 2024, the Board of Directors declared, and the Company paid, a cash dividend per common share of $0.80 (for an aggregate cash dividend per common share of $2.40 for the first three quarters of fiscal 2024). Additionally, in each of the first three quarters of fiscal 2023, the Board of Directors declared, and the Company paid, a cash dividend per common share of $0.75 (for an aggregate cash dividend per common share of $2.25 for the first three quarters of fiscal 2023). The Board of Directors will evaluate future dividend declarations based on a number of factors, including restrictions under the Company’s secured revolving credit facility, business conditions, the Company’s financial performance, and other considerations.
Provisions in the Company’s secured revolving credit facility could have the effect of restricting the Company’s ability to pay cash dividends on, or make future repurchases of, its common stock, as further described in Note 5, Long-term Debt, to the condensed consolidated financial statements.