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Stock Repurchase Program and Cash Dividends
9 Months Ended
Nov. 02, 2019
Stock Repurchase Program and Cash Dividends  
Stock Repurchase Program and Cash Dividends

11. Stock Repurchase Program and Cash Dividends

 

Repurchases of Common Stock

On November 28, 2018, the Company’s Board of Directors approved a program that authorized the purchase of up to $25.0 million in shares of the Company’s common stock.  During the thirty-nine weeks ended November 2, 2019, the Company repurchased 562,813 shares of its common stock at an aggregate cost of $9.7 million.  During the thirteen weeks ended November 2, 2019, the Company repurchased 290,213 shares of its common stock at an aggregate cost of $5.1 million.  At November 2, 2019,  there were no additional shares which could be repurchased pursuant to this authorization.  On November 22, 2019, the Company’s Board of Directors approved another program that authorized the repurchase of up to $25.0 million in shares of the Company’s common stock.

 

Dividends

On February 12, 2019, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on March 19, 2019 to stockholders of record as of March 5, 2019.  On May 21, 2019, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on June 18, 2019 to stockholders of record as of June 4, 2019.  On August 20, 2019, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on September 17, 2019 to stockholders of record as of September 3, 2019.  On November 22, 2019, the Company’s Board of Directors declared a dividend of $0.08 per common share, payable on December 24, 2019 to stockholders of record as of December 10, 2019.  Any determination to declare and pay cash dividends for future quarters will be made by the Company’s Board of Directors.