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DIVIDEND PROGRAM | 12 Months Ended
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Apr. 27, 2014
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DIVIDEND PROGRAM | 19. DIVIDEND PROGRAM Fiscal 2013 On June 13, 2012, we announced that our board of directors approved the payment of a cash dividend of $0.03 per share in the first quarter of fiscal 2013. These dividend payments of $0.03 per share continued each quarter for the remainder of fiscal 2013. On November 27, 2012, we announced that our board of directors approved the payment of a special cash dividend of $0.50 per share, which was paid on December 28, 2012. During fiscal 2013, dividend payments totaled $7.6 million, of which $6.1 million represented the special cash dividend payment of $0.50 per share, and $1.5 million represented the quarterly dividend payments of $0.03 per share, respectively. Fiscal 2014 One June 12, 2013, we announced that our board of directors approved a 33% increase in payment of a quarterly cash dividend from $0.03 to $0.04 per share, commencing the first quarter of fiscal 2014. A dividend payment of $0.04 per share was paid in the second quarter of fiscal 2014. On November 25, 2013, we announced that our board of directors approved a 25% increase in payment of a quarterly cash dividend from $0.04 to $0.05 per share, commencing in the third quarter of fiscal 2014. A dividend payment of $0.05 per share was paid in the fourth quarter of fiscal 2014. During fiscal 2014, dividend payments totaled $2.2 million. Fiscal 2015 On June 12, 2014, we announced that our board of directors approved the payments of a special cash dividend of $0.40 per share and a quarterly cash dividend of $0.05 per share. These dividend payments are payable on July 15, 2014, to shareholders of record on July 1, 2014. Future dividend payments are subject to Board approval and may be adjusted at the Board’s discretion as business needs or market conditions change.

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