Dividend Program

12 Months Ended

May 03, 2020

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Dividend Program

24. DIVIDEND PROGRAM

On July 1, 2020, we announced that our board of directors approved a regular quarterly cash dividend payment of $0.105 per share. This payment will be made on or about July 17, 2020, to shareholders of record as of July 10, 2020.

During fiscal 2020, dividend payments totaled $5.1 million, all of which represented quarterly dividend payments ranging from $0.10 to $0.105 per share.

During fiscal 2019, dividend payments totaled $4.7 million, all of which represented quarterly dividend payments ranging from $0.09 to $0.10 per share.

During fiscal 2018, dividend payments totaled $6.8 million, of which $2.6 million represented a special cash dividend payment of $0.21 per share, and $4.2 million represented our regular quarterly cash dividend payments ranging from $0.08 to $0.09 per share.

Future dividend payments are subject to Board approval and may be adjusted at the Board’s discretion as business needs or market conditions change.  The Board will continue to evaluate the appropriateness of the current dividend in light of economic conditions and our performance in future quarters.