Annual report pursuant to Section 13 and 15(d)

Dividends to Shareholders Dividends to Shareholders

v2.4.0.8
Dividends to Shareholders Dividends to Shareholders
 12 Months Ended
Dec. 28, 2013
Equity [Abstract]  
Dividends to Shareholders
DIVIDENDS TO SHAREHOLDERS

The Company declared dividends of $11,806, $38,582, and $10,383 to shareholders in 2013, 2012, and 2011, respectively.

Except as noted below, the Company declared the following regular quarterly dividends to shareholders of record on the last day of the respective quarter, paid on the 15th day of each month following the date of declaration:
 
 
2013
 
2012
 
2011
First quarter
 
$
0.090

 
$
0.090

 
$
0.060

Second quarter
 
0.090

 
0.090

 
0.090

Third quarter
 
0.090

 
0.090

 
0.090

Fourth quarter
 
0.090

 
0.090

 
0.090



In addition to the regular quarterly dividends, the Company declared shared distribution cash dividends in 2013, 2012 and 2011, equal to $0.09, $0.12 and $0.07, respectively. The 2013 dividend was paid on March 31, 2013, to shareholders of record on March 15, 2013, the 2012 dividend was paid on March 31, 2012, to shareholders of record on March 22, 2012, and the 2011 dividend was paid on March 31, 2011, to shareholders of record as of March 15, 2011. The shared distribution was introduced in 2008 as a way to reward both shareholders and employees when the Company has a successful year. The Board of Directors has declared a shared distribution cash dividend of $0.09 per share, payable on March 31, 2014, to shareholders of record as of March 15, 2014.

In light of the Company’s cash position, its current and perceived uses for cash, and the likely increase in income tax rates on corporate dividends as of January 1, 2013, the Board of Directors in December 2012 declared a special one-time cash dividend of $1.00 per share to shareholders of record as of December 14, 2012. In anticipation of the expected tax law changes in 2013, the payment date for both the special dividend and the regular quarterly dividend of $0.09 per share was December 28, 2012.