Stockholders' Equity

12 Months Ended

Jan. 28, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock, Class B Common Stock and Preferred Stock – The Company's Amended and Restated Certificate of Incorporation authorizes the issuance of 200,000,000 shares of common stock, par value $0.01 per share, and the issuance of 40,000,000 shares of Class B common stock, par value $0.01 per share. In addition, the Company's Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5,000,000 shares of preferred stock.

Holders of common stock generally have rights identical to holders of Class B common stock, except that holders of common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. A related party, relatives of the related party and trusts held by them hold all of the Class B common stock. These shares can only be held by members of this group and are not publicly tradable. Each share of Class B common stock can be converted at any time into one share of common stock at the holder's option.

Dividends per Common Share – The Company declared and paid cash dividends of $0.605, $0.55 and $0.50 per share of common stock and Class B common stock during fiscal 2016, 2015 and 2014, respectively.

Treasury Stock – On March 7, 2013, the Company's Board of Directors authorized a five-year share repurchase program of up to $1 billion of the Company's common stock. During fiscal 2016, the Company repurchased 3.1 million shares of its common stock for $145.7 million. During fiscal 2015, the Company repurchased 7.4 million shares of its common stock for $357.3 million.

On March 16, 2016, the Company's Board of Directors authorized an additional five-year share repurchase program of up to $1 billion of the Company's common stock.