Stock Repurchase and Dividends

3 Months Ended

Dec. 31, 2017

Stock Repurchase and Dividends

Stock Repurchase and Dividends

Stock Repurchase and Dividends

On November 7, 2016, the Board of Directors authorized a new stock repurchase program under which we could repurchase up to $200 million of our common stock. In the first quarter of fiscal 2018, we repurchased through open market purchases under this program a total of 514,676 shares at an average price of $48.57 for a total cost of $25.0 million.

On November 7, 2017, the Board of Directors declared a quarterly cash dividend of $0.10 per share payable on December 15, 2017 to stockholders of record as of the close of business on November 30, 2017. Dividends totaling $5.6 million and $5.1 million were paid in the first quarters of fiscal 2018 and 2017, respectively.

Subsequent Event.  On January 29, 2018, the Board of Directors declared a quarterly cash dividend of $0.10 per share payable on March 2, 2018 to stockholders of record as of the close of business on February 14, 2018.