Shareholders' Equity

9 Months Ended

Oct. 28, 2018

Notes to financial statements [Abstract]

Shareholders' Equity

Shareholders’ Equity

Capital Return Program 

Beginning August 2004, our Board of Directors authorized us to repurchase our stock.

During the third quarter and first nine months offiscal year 2019, we repurchased a total of 1 million shares and 4 million shares, respectively, for $200 million and $855 million, respectively. During the third quarter and first nine months offiscal year 2019, we also paid $91 million and $273 million, respectively, in cash dividends to our shareholders.

In November 2018, we declared an increase in our quarterly cash dividend to $0.16 per share from $0.15 per share, to be paid with our next quarterly cash dividend on December 21, 2018, to all shareholders of record on November 30, 2018.

Through October 28, 2018, we have repurchased an aggregate of 255 million shares under our share repurchase program for a total cost of $6.36 billion. All shares delivered from these repurchases have been placed into treasury stock. In November 2018, our board of directors authorized an additional $7.00 billion under our share repurchase program. As of November 5, 2018, we were authorized, subject to certain specifications, to repurchase additional shares of our common stock up to $7.94 billion through December 2022.

Preferred Stock

As of October 28, 2018 and January 28, 2018, 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.