Shareholders' equity

9 Months Ended

Nov. 01, 2014

Shareholders' equity

6. Shareholders’ equity

Share repurchase

			39 weeks ended November 1, 2014						39 weeks ended November 2, 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		288,393	$	29.8	$	103.37		746,326	$	50.0	$	66.99
2011 Program(2)	$	350		n/a		n/a		n/a		749,245		50.1		66.92
Total				288,393	$	29.8				1,495,571	$	100.1

(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 $265.6 million remaining as of November 1, 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.

Signet repurchased 68,261 shares in the third quarter of Fiscal 2015 at an average of $109.18 per share. In the third quarter of Fiscal 2014, Signet repurchased 371,713 shares at an average cost of $67.26 per share.

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
Third quarter	$	0.18	$	14.4	(4)	$	0.15	$	12.0

(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) The second quarter Fiscal 2015 $0.18 per share cash dividend was paid on August 27, 2014 in the aggregate amount of $14.4 million.

(4) As of November 1, 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 on August 26, 2014, which has a record date of October 31, 2014 and a payment date of November 25, 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.