Stock Repurchase and Dividends

9 Months Ended

Jun. 28, 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 June 28, 2020, we had a remaining balance of $222.8 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 nine months 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	2019 Program	1,337,845	$	76.38	$	102,188

The following table presents dividend declared and paid in the first nine months 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	8,225
April 27, 2020	$	0.17	May 13, 2020	May 29, 2020	9,175
Total dividend paid as of June 28, 2020							$	25,590

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
April 29, 2019	$	0.15	May 15, 2019	May 31, 2019	8,219
Total dividend paid as of June 30, 2019							$	21,489

Subsequent Event. On July 27, 2020, the Board of Directors declared a quarterly cash dividend of $0.17 per share payable on September 4, 2020 to stockholders of record as of the close of business on August 21, 2020.