Shareholders' Equity

9 Months Ended

Oct. 29, 2017

Notes to financial statements [Abstract]

Stockholders' Equity

Shareholders’ Equity

Capital Return Program

Beginning August 2004, our Board of Directors authorized us, subject to certain specifications, to repurchase shares of our common stock.

During the third quarter and first nine months offiscal year 2018, we repurchased a total of 1 million shares and 6 million shares, respectively, for $151 million and $909 million, respectively. During the third quarter and first nine months offiscal year 2018, we also made cash dividend payments to our shareholders of $84 million and $250 million, respectively.

Through October 29, 2017, we have repurchased an aggregate of 251 million shares under our share repurchase program for a total cost of $5.50 billion since the inception of the program. All shares delivered from these repurchases have been placed into treasury stock. As of October 29, 2017, we were authorized, subject to certain specifications, to repurchase additional shares of our common stock up to $1.82 billion through December 2020.

In November 2017, we declared an increase in our quarterly cash dividend to $0.15 per share from $0.14 per share, to be paid with our next quarterly cash dividend on December 15, 2017, to all shareholders of record on November 24, 2017.

Convertible Preferred Stock

As of October 29, 2017 and January 29, 2017, there were no shares of preferred stock outstanding.

Common Stock

We are authorized to issue up to 2.00 billion shares of our common stock at $0.001 per share par value.