4 unchanged sentences
The payment of dividends to Company stockholders is subject to the discretion of the Board of Directors, and various factors may prevent us from paying dividends.
−Removed: Such factors include Company cash requirements and liquidity and the requirements of state, corporate and other laws.
+Added: Such factors include Company cash requirements, covenants of our Credit Agreement and liquidity or other requirements of state, corporate and other laws.
Issuer Purchases of Equity Securities
−Removed: On October 27, 2020, the Company's Board of Directors approved a $100 million stock repurchase program that may be used to purchase its outstanding common stock.
+Added: On May 25, 2022, the Company's Board of Directors approved a $100 million stock repurchase program that may be used to purchase its outstanding common stock.
+Added: The repurchase program is funded using our available cash.
The repurchases may be made in the open market or in privately negotiated transactions in compliance with applicable state and federal securities laws and other legal requirements.
1 unchanged sentence
The repurchase program does not obligate us to acquire any particular amount of common stock and may be suspended or discontinued at any time.
−Removed: The repurchase program is funded using our available cash.
−Removed: Share repurchase activity during the three months ended April 2, 2022 was as follows (in thousands, except number of shares and per share amounts):
+Added: Share repurchase activity during the three months ended April 1, 2023 was as follows:
Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of the Publicly Announced Program Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program
6 unchanged sentences
115,457 115,457
−Removed: Subsequent to fiscal 2022 year end, we utilized the remaining $39 million under this program.
−Removed: On May 25, 2022, the Company's Board of Directors approved another $100 million stock repurchase program under the same terms and conditions as the previous plan.
Performance Graph
−Removed: The following graph compares the yearly change in the cumulative total stockholder return on Cavco common stock during the five fiscal years ended April 2, 2022, with that of the Nasdaq Composite Index and the iShares U.S.
+Added: The following graph compares the yearly percentage change in the cumulative total stockholder return on Cavco common stock during the five fiscal years ended April 1, 2023, with that of the Nasdaq Composite Index and the iShares U.S.
Home Construction ETF.
−Removed: The comparison assumes $100 (with reinvestment of all dividends) was invested on April 1, 2017, in Cavco common stock and in each of the foregoing indices.
+Added: The comparison assumes $100 (with reinvestment of all dividends) was invested on March 31, 2018, in Cavco common stock and in each of the foregoing indices.
CAVCO INDUSTRIES, INC.
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.