11. Stock Repurchase Program and Cash Dividends

 

Repurchases of Common Stock

On March 16, 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 twenty-six weeks ended August 4, 2018, the Company repurchased 730,812 shares of its common stock at an aggregate cost of $21.0 million.  At August 4, 2018, $4.0 million remained available for purchase under this program.

 

Dividends

On February 13, 2018, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on March 20, 2018 to stockholders of record as of March 6, 2018.  On May 22, 2018, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on June 19, 2018 to stockholders of record as of June 5, 2018.  On August 21, 2018, the Company’s Board of Directors declared a dividend of $0.08 per common share, payable on September 18, 2018 to stockholders of record as of September 4, 2018.  Any determination to declare and pay cash dividends for future quarters will be made by the Company’s Board of Directors.