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Dividends to Shareholders Dividends to Shareholders
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 27, 2014
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dividends to Shareholders |
DIVIDENDS TO SHAREHOLDERS
The Company declared dividends of $38,377, $11,806, and $38,582 to shareholders in 2014, 2013, and 2012, 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:
In addition to the regular quarterly dividends, the Company declared shared distribution cash dividends in 2014, 2013 and 2012, equal to $0.09, $0.09 and $0.12, respectively. The 2014 dividend was paid on March 31, 2014, to shareholders of record on March 15, 2014, the 2013 dividend was paid on March 31, 2013, to shareholders of record on March 15, 2013, and the 2012 dividend was paid on March 31, 2012, to shareholders of record as of March 22, 2012. 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 declared a shared distribution cash dividend of $0.09 per share, payable on March 31, 2015, to shareholders of record as of March 15, 2015.
In 2014, the Company declared a special one-time cash dividend of $1.00 per share paid on October 24, 2014, to shareholders of record as of October 10, 2014. In declaring the special dividend, the Board of Directors cited the Company's strong cash position, ability to generate on-going cash, and strong financial performance in the first half of 2014 as reasons for its decision.
In light of the Company’s cash position, its current and perceived uses for cash, and an anticipated 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.
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