Stock Repurchase and Dividends

6 Months Ended

Mar. 29, 2020

Stock Repurchase And Dividends [Abstract]

On November 5, 2018, the Board of Directors authorized a stock repurchase program ("2019 Program") under which we could repurchase up to $200 million of our common stock. This was in addition to the $25 million remaining as of fiscal 2018 year-end under the previous stock repurchase program ("2018 Program"). On January 27, 2020, the Board of Directors authorized a new $200 million stock repurchase program ("2020 Program"). As of March 29, 2020, we had a remaining balance of $243.3 million available under the 2019 and 2020 programs. The following table summarizes stock repurchases in the open market and settled in fiscal 2019 and the first half of fiscal 2020:


Fiscal-Year Activity	Stock Repurchase Program	Shares Repurchased	Average Price Paid per Share		Total Cost (in thousands)
2019	2018 Program	430,559	$	58.06	$	25,000
2019	2019 Program	1,131,962	66.26		75,000
2019 Total		1,562,521	$	64.00	$	100,000

2020 ⁽¹⁾	2019 Program	1,060,850	$	76.98	$	81,660

⁽¹⁾These amounts excluded 13,869 shares at the average price per share of $71.03 ($1.0 million of repurchases) that were traded but not yet settled as of March 29, 2020.

The following table presents dividend declared and paid in the first half of fiscal 2020 and 2019:


Declare Date	Dividend Paid Per Share		Record Date	Payment Date	Dividend Paid (in thousands)
November 11, 2019	$	0.15	December 2, 2019	December 13, 2019	$	8,190
January 27, 2020	$	0.15	February 12, 2020	February 28, 2020	8,224
Total dividend paid as of March 29, 2020							$	16,414

November 5, 2018	$	0.12	November 30, 2018	December 14, 2018	$	6,654
January 28, 2019	$	0.12	February 13, 2019	February 28, 2019	6,616
Total dividend paid as of March 31, 2019							$	13,270

Subsequent Event. On April 27, 2020, the Board of Directors declared a quarterly cash dividend of $0.17 per share payable on May 29, 2020 to stockholders of record as of the close of business on May 13, 2020.