Shareholders’ equity

Share repurchases

Common shares repurchased during the 39 weeks ended November 3, 2018 and October 28, 2017 were as follows:



			39 weeks ended November 3, 2018					39 weeks ended October 28, 2017
(in millions, except per share amounts)	Amount authorized		Shares repurchased	Amount repurchased		Average repurchase price per share		Shares repurchased	Amount repurchased		Average repurchase price per share
2017 Program⁽¹⁾	$	600.0	7.5	$	434.4	$	57.64	n/a	n/a		n/a
2016 Program⁽²⁾	$	1,375.0	1.3	$	50.6	$	39.76	8.1	$	460.0	$	56.91
Total			8.8	$	485.0	$	55.06	8.1	$	460.0	$	56.91


⁽¹⁾	The 2017 Program had $165.6 million remaining as of November 3, 2018.


⁽²⁾	The 2016 Program was completed in March 2018.


n/a	Not applicable.

Dividends on common shares

Dividends declared on common shares during the 39 weeks ended November 3, 2018 and October 28, 2017 were as follows:



	Fiscal 2019				Fiscal 2018
(in millions, except per share amounts)	Cash dividend per share		Total dividends		Cash dividend per share		Total dividends
First quarter	$	0.37	$	21.8	$	0.31	$	21.3
Second quarter	0.37		19.2		0.31		18.7
Third quarter⁽¹⁾	0.37		19.2		0.31		18.7
Total	$	1.11	$	60.2	$	0.93	$	58.7

⁽¹⁾

Signet’s dividend policy for common shares results in the dividend payment date being a quarter in arrears from the declaration date. As a result, as of November 3, 2018 and October 28, 2017, $19.2 million and $18.7 million, respectively, has been recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividends on common shares declared for the third quarter of Fiscal 2019 and Fiscal 2018, respectively.

Dividends on preferred shares

Dividends declared on preferred shares during the 39 weeks ended November 3, 2018 and October 28, 2017 were as follows:



	Fiscal 2019		Fiscal 2018
(in millions)	Total cash dividends		Total cash dividends
First quarter	$	7.8	$	7.8
Second quarter	7.8		7.8
Third quarter⁽¹⁾	7.8		7.8
Total	$	23.4	$	23.4

⁽¹⁾

Signet’s preferred shares dividends results in the dividend payment date being a quarter in arrears from the declaration date. As a result, as of November 3, 2018 and October 28, 2017, $7.8 million and $7.8 million, respectively, has been recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividends on preferred shares declared for the third quarter of Fiscal 2019 and Fiscal 2018, respectively.

There were no cumulative undeclared dividends on the preferred shares that reduced net income (loss) attributable to common shareholders during the 13 and 39 weeks ended November 3, 2018 or October 28, 2017. In addition, deemed dividends of $0.4 million and $1.2 million related to accretion of issuance costs associated with the preferred shares was recognized during the 13 and 39 weeks ended November 3, 2018, respectively ($0.4 million and $1.2 million for the 13 and 39 weeks ended October 28, 2017, respectively). See Note 8 for additional discussion of the Company’s preferred shares.