Capital Stock and Dividends

6 Months Ended

Jul. 01, 2017

Equity [Abstract]

Capital Stock and Dividends

Capital Stock and Dividends:

Capital Stock

The authorized capital stock of the Company consists of common stock and preferred stock. The Company is authorized to issue 400 million shares of common stock. The Company is also authorized to issue 40,000 shares of preferred stock, with such designations, rights and preferences as may be determined from time to time by the Board of Directors.

Dividends

During the first six months of fiscal 2017 and 2016, the Board of Directors declared the following cash dividends:

Date Declared	Dividend Amount Per Share		Record Date	Date Paid
May 8, 2017	$	0.27	May 22, 2017	June 6, 2017
February 8, 2017	$	0.24	February 27, 2017	March 14, 2017
May 2, 2016	$	0.24	May 16, 2016	June 1, 2016
February 3, 2016	$	0.20	February 22, 2016	March 8, 2016

It is the present intention of the Board of Directors to continue to pay a quarterly cash dividend; however, the declaration and payment of future dividends will be determined by the Board of Directors in its sole discretion and will depend upon the earnings, financial condition and capital needs of the Company, along with other factors which the Board of Directors deems relevant.

On August 7, 2017, the Company’s Board of Directors declared a quarterly cash dividend of $0.27 per share of the Company’s outstanding common stock.  The dividend will be paid on September 6, 2017 to stockholders of record as of the close of business on August 21, 2017.