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Shareholders' equity | 3 Months Ended
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May 03, 2025
Equity [Abstract] |
Shareholders' equity | Shareholders’ equity Dividends on common shares Dividends declared on the common shares during the 13 weeks ended May 3, 2025 and May 4, 2024 were as follows:
| Fiscal 2026 |  | Fiscal 2025
(in millions, except per share amounts) | Dividends per share |  | Total dividends |  | Dividends per share |  | Total dividends
First quarter (1) | $ | 0.32 |  |  | $ | 13.4 |  |  | $ | 0.29 |  |  | $ | 12.9 |
(1) Signet’s dividend policy results in the dividend payment date being a quarter in arrears from the declaration date. As of May 3, 2025 and May 4, 2024, there was $13.4 million and $12.9 million recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividends declared for the first quarter of Fiscal 2026 and Fiscal 2025, respectively. Dividends on Preferred Shares Dividends declared on the Preferred Shares during the 13 weeks ended May 4, 2024 were as follows:
|  |  | Fiscal 2025
(in millions, except per share amounts) |  |  |  |  | Dividends per share |  | Total dividends (2)
First quarter (1) |  |  |  |  | $ | 13.14 |  |  | $ | 6.2 |
(1) Signet’s dividend policy resulted in the Preferred Share dividend payment date being a quarter in arrears from the declaration date. As a result, as of May 4, 2024, $4.1 million was recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the dividends on Preferred Shares declared for the first quarter of Fiscal 2025. (2) Dividends on the Preferred Shares during the first quarter of Fiscal 2025 included $2.1 million of accrued dividends paid in connection with the redemption further described in Note 5. Share repurchases Signet may from time to time repurchase common shares under various share repurchase programs authorized by Signet’s Board. Repurchases may be made in the open market through 10b5-1 trading plans, through block trades, through accelerated share repurchase agreements or otherwise. The timing, manner, price and amount of any repurchases will be determined by the Company at its discretion and will be subject to economic and market conditions, stock prices, applicable legal requirements and other factors. The repurchase programs are funded through Signet’s existing cash reserves and liquidity sources. Repurchased shares are held as treasury shares and used by Signet primarily for issuance of share-based compensation awards, or for general corporate purposes. The Board authorized repurchases to be made under the 2017 Share Repurchase Program (the “2017 Program”). During Fiscal 2025, the Board authorized an increase in the remaining amount of shares authorized for repurchase under the 2017 Program by $200.0 million, bringing the total authorization to approximately $2.1 billion, with $723.0 million remaining as of February 1, 2025. Since inception of the 2017 Program, the Company has repurchased approximately $1.5 billion of shares, with $605.6 million of shares authorized for repurchase remaining as of May 3, 2025. The share repurchase activity during the 13 weeks ended May 3, 2025 and May 4, 2024 was as follows:
|  |  | 13 weeks ended May 3, 2025 |  | 13 weeks ended May 4, 2024
(in millions, except per share amounts) |  |  | Shares repurchased |  | Amount repurchased (1) |  | Average repurchase price per share (1) |  | Shares repurchased |  | Amount repurchased (1) |  | Average repurchase price per share (1)
2017 Program |  |  | 2.1 |  | $ | 117.4 |  |  | $ | 57.00 |  |  | 0.1 |  | $ | 7.4 |  |  | $ | 101.10 |
(1) Includes amounts paid for commissions.

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