Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 28

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 2
Chunk 28
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 weeks of fiscal 2025 and intend to repurchase up to a total of  $1.25 billion in fiscal 2025. As of December 28, 2024, we had a remaining authorization of approximately $2.5 billion. We repurchased 286,506 additional shares for $21 million under our authorization from the end of our fiscal second quarter through January 10, 2025.

Dividends paid in the first 26 weeks of fiscal 2025 were $503 million, or $1.02 per share, as compared to $506 million, or $1.00 per share, in the first 26 weeks of fiscal 2024. In November 2024, we declared our regular quarterly dividend for the second quarter of fiscal 2025 of $0.51 per share, which was paid in January 2025. 

Debt Activity and Borrowing Availability

Our debt activity, including issuances and repayments, if any, and our borrowing availability are described in Note 7, “Debt,” in the Notes to Consolidated Financial Statements in Item 1 of Part I of this Form 10-Q. Our outstanding borrowings as of December 28, 2024 are also disclosed within that note.

Guarantor Summarized Financial Information

47

On January 19, 2011, the wholly owned U.S. Broadline subsidiaries of Sysco Corporation, which distribute a full line of food products and a wide variety of non-food products, entered into full and unconditional guarantees of all outstanding senior notes and debentures of Sysco Corporation. All subsequent issuances of senior notes and debentures in the U.S. and borrowings under the company’s $3.0 billion long-term revolving credit facility have also been guaranteed by these subsidiaries. As of December 28, 2024, Sysco had a total of $10.5 billion in senior notes, debentures and borrowings under the long-term revolving credit facility that were guaranteed by these subsidiary guarantors. Our remaining consolidated subsidiaries (non-guarantor subsidiaries) are not obligated under the senior notes indenture, debentures indenture or our long-term revolving credit facility. See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” contained in our fiscal 2024 Form 10-K for additional information regarding the terms of the guarantees.

Basis of Preparation of the Summarized Financial