Signet Announces Stock Repurchase Program

Signet Jewelers has authorized a new $350 million stock repurchase program.

“The share repurchase authorization reflects our ongoing commitment to build long-term value for our shareholders, the continued confidence we have in the strength of our business, and our ability to generate free cash flow after investment in our growth initiatives,” Signet CEO Mike Barnes said in a statement.

The repurchase program will be funded through the company’s existing cash reserves and liquidity sources.

Signet also announced that its board of directors has approved a regular quarterly cash dividend of $0.15 per share payable on August 28 to record holders of Signet shares on August 2, with an ex-dividend date of July 31.