Stockholders' Equity

12 Months Ended

Sep. 28, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Repurchases of common stock— In November 2012 and August 2013, the Board approved two programs, each of which provide repurchase authorizations for up to $100.0 million expiring November 2014 and November 2015, respectively. These authorizations were fully utilized in fiscal 2014. Additionally, in February 2014 and July 2014, the Board of Directors approved two new programs which provided repurchase authorizations for up to $200.0 million and $100.0 million, respectively, in shares of our common stock, expiring November 2015. During fiscal 2014, we repurchased 5.6 million shares at an aggregate cost of $319.7 million. As of September 28, 2014, there was $117.1 million remaining under the February and July 2014 authorizations.

Dividends — On May 9, 2014, the Board of Directors approved the initiation of a regular quarterly cash dividend. During fiscal 2014, two quarterly cash dividend payments of $0.20 per share were declared totaling $15.9 million. Future dividends are subject to approval by our Board of Directors.