Family Dollar operates a chain of discount stores. It has locations across the United States. Family Dollar is not a true "dollar store" in the strict sense; while there are many items available for $1, there are other price points as well. However, approximately 90% of the products cost less than $10. The chain deals in food items, clothing and assorted household products.

1. How many shares of common stock did Family Dollar Stores repurchase during fiscal year ended August 30, 2008?
2. What was the average price per share that Family Dollar Stores paid to repurchase shares during fiscal year ended August 30, 2008?
3. If Family Dollar Stores had not declared dividends would net income have been higher/ lower or the same as reported?

FAMILY DOLLAR STORES, INC., AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Years Ended August 30, 2008, September 1, 2007, and August 26, 2006 Accumulated other (in thousands, except per share and share Common Capital in Retained Comprehensive Treasury amounts) stock excess of par earnings loss stock Total Balance, August 27, 2005 (188,871,738 shares common stock: 23,609,225 shares treasury stock) $ 18,887 $ 133,743 $1,654,861 $ - $(379,425) $1,428,066 Net income for the year 195,111 195,111 Issuance of 297,595 common shares under employee stock option plan, including tax benefits 30 7,344 7.374 Purchase of 4,745,293 common shares for treasury (117,323) (117,323) Issuance of 5,591 shares of treasury stock under the Family Dollar 2000 Outside Directors Plan 46 90 136 Purchase and cancellation of 10,609,922 common shares (1,061) (8,092) (240,849) (250,002) Stock-based compensation 7.788 Dividends on common stock, $.41 per share (62,757) (62,757 Balance, August 26, 2006 (178,559,411 shares common stock: 28,348,927 shares treasury stock) 17,856 140,829 1,546,366 (496,658) 1,208,393 Net income for the year 242,854 242,854 Issuance of 1,326,823 common shares under incentive plans, including tax benefits 133 35,441 35,574 Purchase of 8.199,000 common shares for treasury (257,523) (257,523) Issuance of 5,985 shares of treasury stock under incentive plans (Director compensation) 91 119 210 Stock-based compensation 11,494 11,494 Dividends on common stock, $.45 per share (66,361) (66,361) 7,788 17,989 187,855 1,722,859 912 (754,062) 1,174,641 912 17,989 187,855 1,723,771 233,073 (754,062) 1,175,553 233,073 (4,862) (4,862) 228,211 Balance, September 1, 2007 (179,886,234 shares common stock, 36,541,942 shares treasury stock) FIN 48 Adoption Balance as adjusted, September 1, 2007 Net income for the year Unrealized loss on investment securities (net of $3.0 million of taxes) Comprehensive income Issuance of 65,014 common shares under incentive plans, including tax benefits Purchase of 3,719,054 common shares for treasury Issuance of 14,290 shares of treasury stock under incentive plans Director compensation) Retirement of 35,818,927 shares of treasury stock Stock-based compensation Dividends on common stock, $.49 per share 6 201 207 (97,674) (97,674) (56) 302 246 (3,582) (37,408) (717,655) 16,077 758,645 16,077 (68,537) (68,537 Balance, August 30, 2008 (144,132,321 shares common stock; 4.427,779 shares treasury stock) $ 14,413 $ 166,669 $1,170,652 S (4,862) $ (92,789) $1,254,083