text: Long-term debt, including capital lease obligations, was 1% of total  tive with the February 28, 2003, dividend payment for shareholders of 
  
  capitalization at January 3, 2004, 2% at December 28, 2002, and 12%  record at the close of business on February 21, 2003. A cash dividend 
  
  at December 29, 2001. The reductions in long-term debt during 2003  has been paid every quarter since April 15, 1955, and quarterly divi- 
  
  and 2002 were due to the retirement of Industrial Revenue Bonds.  dends are expected to continue. The average dividend payout 
  
  The Company does not expect future capital resources to be a constraint  percentage for the most recent three-year period has been 32% of 
  
  on planned growth. Additional borrowing capacity of $136 million,  prior year earnings. 
  
  less amounts used for designated letters of credit, is available through 
  ***C O M M O N S H A R E R E P U R C H A S E S***
  a revolving bank credit agreement in the event cash generated from 
  During 2003, the Company repurchased 762,300 shares of its com- 