|9 Months Ended|
Dec. 28, 2019
|Subsequent Events [Abstract]|
On January 17, 2020, VF’s Board of Directors declared a quarterly cash dividend of $0.48 per share, payable on March 20, 2020 to stockholders of record on March 10, 2020.
On January 21, 2020, VF announced that it is considering the divestiture of the occupational portion of its Work segment. The occupational portion of the Work segment is comprised primarily of the following brands and businesses: Red Kap®, VF Solutions®, Bulwark®, Workrite®, Walls®, Terra®, Kodiak®, Work Authority® and Horace Small®.
From December 30, 2019 to February 3, 2020, the Company repurchased approximately 1.9 million shares of Common Stock
in open market transactions for $160.5 million (average price per share of $83.59). VF's current intent is to repurchase up to $500.0 million of Common Stock in open market transactions during the fourth quarter of Fiscal 2020. The repurchases are at the Company's discretion and are subject to change based on circumstances.
On February 3, 2020, VF announced the commencement of cash tender offers for any and all of its $300.0 million aggregate principal amount of outstanding 6.00% notes due 2033 and $350.0 million aggregate principal amount of outstanding 6.45% notes due 2037. Additionally, VF issued a notice of redemption for its $500.0 million aggregate principal amount of outstanding 3.50% notes due 2021.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef