Dividend

9 Months Ended

Aug. 23, 2020

Dividends [Abstract]

DIVIDEND

DIVIDEND

Dividends are declared at the discretion of the Board. In January and April 2020, the Company declared quarterly cash dividends of $0.08 per share to holders of record of its Class A and Class B common stock. Dividends in the amount of $63.6 million were paid during the nine months ended August 23, 2020. The Company determined not to declare dividends in the third and fourth fiscal quarters of 2020.

The Company does not have an established dividend policy. The Board reviews the Company's ability to pay dividends on an ongoing basis and establishes the dividend amount based on the Company's financial condition, results of operations, capital requirements, current and projected cash flows and other factors, and any restrictions related to the terms of the Company’s debt agreements.