Stockholders' Equity

6 Months Ended

Apr. 16, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Repurchases of common stock— In fiscal 2017, we repurchased 3.2 million common shares at an aggregate cost of $327.2 million. As of April 16, 2017, there was approximately $81.0 million remaining under a stock-buyback program which expires in November 2018. In our condensed consolidated statement of cash flows for 2017, repurchases of common stock excludes $11.7 million related to repurchase transactions traded prior to quarter-end that settled subsequent to April 16, 2017, offset by $7.2 million related to repurchase transactions traded in the prior fiscal year that settled in 2017.

Dividends—During year-to-date 2017, the Board of Directors declared two cash dividends of $0.40 per common share which were paid on March 20, 2017 and December 16, 2016 to shareholders of record as of the close of business on March 7, 2017 and December 5, 2016, respectively, and totaled $25.6 million. Future dividends are subject to approval by our Board of Directors.