Stockholders' Equity

6 Months Ended

Jul. 28, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

5.           Stockholders' Equity

On June 11, 2012, the Company announced that its Board of Directors ("the Board") approved an 11% increase in the Company's quarterly cash dividend rate to $0.10 cents per share from the previous quarterly rate of $0.09 cents per share.  The new quarterly rate of $0.10 cents per share is applicable to dividends declared by the Board after June 20, 2012.  In the current year, the Company has paid cash dividends totaling $5.6 million.  On August 24, 2012, the Board declared a quarterly cash dividend of $0.10 cents per share, payable on September 19, 2012 to shareholders of record at the close of business on September 4, 2012.

In March 2011, the Company announced that the Board approved a Stock Repurchase Program which authorizes the Company to repurchase up to $200.0 million of its outstanding common stock (the "2011 Stock Repurchase Program") from time to time, either on the open market or through privately negotiated transactions.  The 2011 Stock Repurchase Program will be financed by the Company's existing cash, cash flow and other liquidity sources, as appropriate. During 2011, the Company spent $100.0 million under the 2011 Stock Repurchase Program to repurchase approximately 6.1 million shares of its common stock. During the current year, the Company repurchased an additional 4,400 shares of its common stock for $61.6 thousand under the 2011 Stock Repurchase Program. On June 11, 2012, the Company announced that its Board has chosen not to spend additional capital under the 2011 Stock Repurchase Program at this time.