Shareholders' equity

3 Months Ended

May 01, 2021

Equity [Abstract]

Shareholders' equity

Shareholders’ equity

Dividends on Common Shares

As a result of COVID-19, Signet’s Board of Directors elected to temporarily suspend the dividend program on common shares, effective in the first quarter of Fiscal 2021.

Dividends on Preferred Shares

Dividends declared on the Preferred Shares during the 13 weeks ended May 1, 2021 and May 2, 2020 were as follows:

	Fiscal 2022				Fiscal 2021
(in millions, except per share amounts)	Dividends per share		Total dividends		Dividends per share		Total dividends
First quarter (1)	$	13.14	$	8.2	$	12.50	$	7.8

(1)    Signet’s Preferred Shares dividends result in the dividend payment date being a quarter in arrears from the declaration date. As a result, as of May 1, 2021 and May 2, 2020, $8.2 million and $7.8 million, respectively, has been recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the dividends on the Preferred Shares declared for the first quarter of Fiscal 2022 and Fiscal 2021, respectively.

There were no cumulative undeclared dividends on the Preferred Shares that reduced net income (loss) attributable to common shareholders during the 13 weeks ended May 1, 2021 or May 2, 2020. See Note 6 for additional discussion of the Company’s Preferred Shares.

Share repurchases

There were no share repurchases executed during the 13 weeks ended May 1, 2021 and May 2, 2020. The 2017 Program had $165.6 million remaining as of May 1, 2021.