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Common shares, treasury shares, and dividends
 12 Months Ended
Feb. 01, 2025
Equity [Abstract]  
Common shares, treasury shares, and dividends Common shares, treasury shares and dividends
Common shares
Signet’s common shares have a par value of 18 cents. There have been no issuances of common shares in Fiscal 2025, Fiscal 2024, or Fiscal 2023.
Treasury shares
Signet may from time to time repurchase common shares under various share repurchase programs authorized by Signet’s Board. Repurchases may be made in the open market, through block trades, through accelerated share repurchase agreements or otherwise. The timing, manner, price and amount of any repurchases will be determined by the Company at its discretion, and will be subject to economic and market conditions, stock prices, applicable legal requirements and other factors. The repurchase programs are funded through Signet’s existing cash reserves and liquidity sources. Repurchased shares are held as treasury shares and used by Signet primarily for issuance of share-based compensation awards (refer to Note 24), or for general corporate purposes.
Treasury shares primarily represent the cost of shares that the Company purchased in the market under the applicable authorized repurchase program and shares forfeited under the Omnibus Incentive Plan.
The Board authorized repurchases to be made under the 2017 Share Repurchase Program (the “2017 Program”). During Fiscal 2023, Fiscal 2024 and Fiscal 2025, the Board authorized increases in the remaining amount of shares authorized for repurchase under the 2017 Program by $500 million, $263 million, and $200 million, respectively, bringing the total authorization to approximately $2.1 billion as of February 1, 2025. Since inception of the 2017 Program, the Company has repurchased approximately $1.4 billion of shares, with $723.0 million of shares authorized for repurchase remaining as of February 1, 2025.
The share repurchase activity during Fiscal 2025, Fiscal 2024 and Fiscal 2023 was as follows:
Fiscal 2025Fiscal 2024Fiscal 2023
(in millions, except per share amounts)Shares
repurchased
Amount
repurchased (1)
Average
repurchase
price per
share (1)
Shares
repurchased
Amount
repurchased (1)
Average
repurchase
price per
share (1)
Shares
repurchased
Amount
repurchased (1)(2)
Average
repurchase
price per
share (1)(2)
2017 Program
1.6 $138.0 $85.04 1.9 $139.3 $73.06 6.1 $426.1 $70.06 
(1)    Includes amounts paid for commissions.
(2)    The amounts repurchased in Fiscal 2023 includes $50 million related to the forward purchase contract in an accelerated share repurchase agreement that was entered into in January 2022, which was pre-paid in Fiscal 2022.
Shares were reissued in the amounts of 1.0 million, 0.7 million and 5.0 million, net of taxes and forfeitures, in Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively, to satisfy awards outstanding under existing share-based compensation plans. During Fiscal 2025, Fiscal 2024 and Fiscal 2023, there were no retirements of common shares previously held as treasury shares in the consolidated balance sheets.
Dividends on common shares
Dividends declared on the common shares during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were as follows:
Fiscal 2025Fiscal 2024Fiscal 2023
(in millions, except per share amounts)Cash dividend
per share		Total
dividends		Cash dividend
per share		Total
dividends		Cash dividend
per share		Total
dividends
First quarter
$0.29 $12.9 $0.23 $10.4 $0.20 $9.3 
Second quarter
0.29 12.9 0.23 10.3 0.20 9.2 
Third quarter
0.29 12.6 0.23 10.2 0.20 9.2 
Fourth quarter (1)
0.29 12.5 0.23 10.2 0.20 9.0 
Total
$1.16 $50.9 $0.92 $41.1 $0.80 $36.7 
(1)    Signet’s dividend policy results in the dividend payment date being a quarter in arrears from the declaration date. As of February 1, 2025 and February 3, 2024, there was $12.5 million and $10.2 million recorded in accrued expenses and other current liabilities in the consolidated balance sheets reflecting the cash dividends declared for the fourth quarter of Fiscal 2025 and Fiscal 2024, respectively.
Dividends on Preferred Shares
Dividends declared on the Preferred Shares during Fiscal 2025, Fiscal 2024 and Fiscal 2023 were as follows:
Fiscal 2025Fiscal 2024Fiscal 2023
(in millions)
Total dividends (2)
Total dividendsTotal dividends
First quarter$6.2 $8.2 $8.2 
Second quarter
2.8 8.2 8.2 
Third quarter
1.3 8.2 8.2 
Fourth quarter (1)
— 8.3 8.2 
Total
$10.3 $32.9 $32.8 
(1)    Signet’s dividend policy resulted in the Preferred Share dividend payment date being a quarter in arrears from the declaration date. As a result, as of February 3, 2024 $8.3 million has been recorded in accrued expenses and other current liabilities in the consolidated balance sheets reflecting the dividends on Preferred Shares declared for the fourth quarter of Fiscal 2024.
(2)    Dividends on the Preferred Shares during the first and third quarter of Fiscal 2025 includes $2.1 million and $1.3 million, respectively, of accrued dividends paid in connection with the redemptions further described in Note 6.
There were no cumulative undeclared dividends on the Preferred Shares that reduced net (loss) income attributable to common shareholders during Fiscal 2025, Fiscal 2024, and Fiscal 2023. In addition, deemed dividends of $1.3 million related to accretion of issuance costs associated with the Preferred Shares were recognized in Fiscal 2025 (Fiscal 2024 and Fiscal 2023: $1.7 million). See Note 6 for additional discussion of the Company’s Preferred Shares.