Earnings Per Share, Share Repurchases and Dividends

12 Months Ended

Jan. 29, 2021

Earnings Per Share, Share Repurchases and Dividends

Earnings Per Share, Share Repurchases and Dividends:

Earnings per Share (EPS)

Basic EPS is computed by dividing net income attributable to common stockholders by the basic weighted-average number of shares outstanding. Diluted EPS is computed similarly to basic EPS, except the weighted-average number of shares outstanding is increased to include the dilutive effect of outstanding stock options and other stock-based awards.

A reconciliation of the weighted-average number of shares outstanding used to compute basic and diluted EPS was:


	Year Ended
	January 29, 2021	January 31, 2020	February 1, 2019
	(in millions)
Basic weighted-average number of shares outstanding	58.1	58.4	43.4
Dilutive common share equivalents - stock options and other stock-based awards	0.6	0.6	0.7
Diluted weighted-average number of shares outstanding	58.7	59.0	44.1

The following stock-based awards were excluded from the weighted-average number of shares outstanding used to compute diluted EPS:

Year Ended

January 29,
2021

January 31,
2020

February 1,
2019

(in millions)

Antidilutive stock options excluded

0.3

0.2

Share Repurchases

The Company may repurchase shares in accordance with established repurchase plans. The Company retires its common stock upon repurchase with the excess over par value allocated to additional paid-in capital. The Company has not made any material purchases of common stock other than in connection with established share repurchase plans. On March 27, 2019, the number of shares of our common stock that may be repurchased under our existing repurchase plan, previously announced in October 2013, was increased by approximately 4.6 million shares, bringing the total authorized shares to be repurchased under the plan to approximately 16.4 million shares. As of January 29, 2021, the Company has repurchased approximately 12.0 million shares of common stock under the plan.

Dividends

The Company declared and paid quarterly dividends every quarter for the years presented, increasing from $0.31 to $0.37 per share in the first quarter of fiscal 2020. Total dividends declared and paid were $1.48 per share during fiscal 2021 and fiscal 2020 and $1.24 per share during fiscal 2019.

Subsequent to the end of fiscal 2021, on March 23, 2021, the Company’s Board of Directors declared a cash dividend of $0.37 per share of the Company’s common stock payable on April 30, 2021 to stockholders of record on April 16, 2021.