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STOCK REPURCHASE PROGRAM AND DIVIDEND
6 Months Ended
Aug. 04, 2013
STOCK REPURCHASE PROGRAM AND DIVIDEND

NOTE F. STOCK REPURCHASE PROGRAM AND DIVIDEND

Stock Repurchase Program

In March 2013, we announced that our Board of Directors had authorized a new three-year stock repurchase program to purchase up to $750,000,000 of our common stock. During the thirteen weeks ended August 4, 2013, we repurchased 1,613,943 shares of our common stock at an average cost of $55.66 per share and a total cost of approximately $89,832,000. During the twenty-six weeks ended August 4, 2013, we repurchased 2,414,825 shares of our common stock at an average cost of $54.25 per share and a total cost of approximately $131,006,000.

Stock repurchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. This stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.

During the thirteen weeks ended July 29, 2012, we repurchased 884,763 shares of our common stock at an average cost of $35.43 per share and a total cost of $31,343,000. During the twenty-six weeks ended July 29, 2012, we repurchased 2,529,271 shares of our common stock at an average cost of $36.80 per share and a total cost of $93,076,000 under programs previously authorized by our Board of Directors.

Dividend

Our quarterly cash dividend was $0.31 and $0.22 per common share for the thirteen weeks ended August 4, 2013 and July 29, 2012, respectively.