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Cash Dividends and Two-for-One Stock Split
9 Months Ended
Sep. 29, 2013
Cash Dividends and Two-for-One Stock Split  
Cash Dividends and Two-for-One Stock Split

3.              Cash Dividends and Two-for-One Stock Split

 

On August 2, 2013, our Board of Directors approved the initiation of quarterly cash dividends to shareholders. A quarterly dividend of $0.25 per common share, or $5.4 million in the aggregate, was paid on September 20, 2013 to shareholders of record as of the close of business on September 6, 2013.

 

Subsequent to third quarter, on October 29, 2013, our Board of Directors declared a fourth quarter cash dividend of $0.25 per common share (or approximately $5.4 million in the aggregate based on current shareholders of record). The dividend will be paid on November 22, 2013 to shareholders of record as of the close of business on November 11, 2013.

 

Subsequent to third quarter, the Board of Directors declared a two-for-one split of the Company’s outstanding shares of common stock, effected in the form of a stock dividend. The stock dividend entitles each shareholder of record at the close of business on December 12, 2013 to receive one additional share for every outstanding share of common stock held on the record date. The stock dividend will be distributed on December 27, 2013.