Capital Stock

Repurchases of Common Stock - The Company made the following share repurchases during fiscal 2015 and the interim periods of fiscal 2016:



Period	Number of Shares Repurchased	Total Consideration (Dollars in thousands)		Average Price Per Share
Fiscal 2015	1,669,924	$	87,146	$	52.19
Fiscal 2016:
Three months ended October 24, 2015	954,224	$	69,997	$	73.35
Three months ended April 23, 2016	1,557,354	$	100,000	$	64.21

In connection with the Notes offering in September 2015, the Company used approximately $60.0 million of the net proceeds from the Notes to repurchase 805,000 shares of its common stock from the initial purchasers of the Notes in privately negotiated transactions at a price of $74.53 per share, the closing price of Dycom’s common stock on September 9, 2015. The additional $10.0 million spent during the three months ended October 24, 2015 was for shares repurchased under an existing authorization. During the three months ended April 23, 2016, the Company repurchased 1,557,354 shares for $100.0 million at an average price of $64.21 per share also under authorized share repurchase programs. All shares repurchased during fiscal 2016 have been canceled. Upon cancellation, the excess over par value is recorded as a reduction in additional paid-in capital until the balance is reduced to zero, with any additional excess recorded to retained earnings. During the three months ended April 23, 2016, $17.1 million was charged to retained earnings related to the Company’s share repurchases.

During the quarter ended April 23, 2016, the Company exhausted its previously authorized stock repurchase programs. On April 26, 2016, the Company announced that its Board of Directors authorized an additional $100 million to repurchase shares of the Company's outstanding common stock through October 2017 in open market or private transactions. As of May 26, 2016, $100 million remained available for repurchase. See Note 18, Subsequent Events, for information regarding the share repurchase authorization.

Restricted Stock Tax Withholdings - During the nine months ended April 23, 2016 and April 25, 2015, the Company withheld 156,362 shares and 138,535 shares, respectively, totaling $12.1 million and $4.3 million, respectively, to meet payroll tax withholdings obligations arising from the vesting of restricted share units. All shares withheld have been canceled. Shares withheld for tax withholdings do not reduce the Company’s total share repurchase authority.