Shareholders' equity

6 Months Ended

Aug. 02, 2014

Shareholders' equity

6. Shareholders’ equity

Share repurchase

			26 weeks ended August 2, 2014						26 weeks ended August 3, 2013
	Amount authorized		Shares repurchased		Amount repurchased		Average repurchase price per share		Shares repurchased		Amount repurchased		Average repurchase price per share
	(in millions)				(in millions)						(in millions)
2013 Program(1)	$	350		220,132	$	22.4	$	101.57		374,613	$	25.0	$	66.74
2011 Program(2)	$	350		n/a		n/a		n/a		749,245		50.1		66.92
Total				220,132	$	22.4				1,123,858	$	75.1

(1) In June 2013, the Board of Directors authorized the repurchase of up to $350 million of Signet’s common shares (the “2013 Program”). The 2013 Program may be suspended or discontinued at any time without notice. The 2013 Program had $273.0 million remaining as of August 2, 2014.

(2) In October 2011, the Board of Directors authorized the repurchase of up to $300 million of Signet’s common shares (the “2011 Program”), which authorization was subsequently increased to $350 million. The 2011 Program was completed as of May 4, 2013.

n/a Not applicable.

Dividends

	Fiscal 2015					Fiscal 2014
	Cash dividend per share		Total dividends			Cash dividend per share		Total dividends
			(in millions)					(in millions)
First quarter(1)	$	0.18	$	14.4	(2)	$	0.15	$	12.1
Second quarter	$	0.18	$	14.4	(3)	$	0.15	$	12.1

(1) Signet’s dividend policy results in the dividend payment date being a quarter in arrears from the declaration date. As a result, the fourth quarter Fiscal 2014 $0.15 per share cash dividend was paid on February 27, 2014 in the aggregate amount of $12.0 million.

(2) The first quarter Fiscal 2015 $0.18 per share cash dividend was paid on May 28, 2014 in the aggregate amount of $14.4 million.

(3) As of August 2, 2014, $14.4 million has been recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets reflecting the cash dividend declared for the second quarter of Fiscal 2015, which has a record date of August 1, 2014 and a payment date of August 27, 2014.

Reclassification

During the second quarter of Fiscal 2015, $234.8 million was reclassified from other reserves within Shareholders’ Equity to retained earnings as the restrictions related to this amount were released. The presentation in previous periods has been adjusted to conform to the current period presentation.