Signet Jewelers
Limited SIG today issued the following statement:
Signet regularly engages in dialogue with its shareholders to
understand their perspective and views on our collective goal of
enhancing long-term shareholder value. Over the course of the first
month of 2014, we have had such meetings with many of our
shareholders, including a constructive meeting with Corvex Management
where Corvex shared its views regarding the Company's balance sheet
and capital structure.
Management and the Board of Directors, along with our advisors,
regularly review our balance sheet and capital structure and we are
open to ideas that may contribute to our efforts to prudently enhance
long-term shareholder value. Value-optimizing strategies related to
our receivables portfolio and our corporate structure are among the
items we have been evaluating and will continue to evaluate as part
of this ongoing work.
In addition to delivering consistently positive retail operating
results, we continue to focus on deploying capital in ways that
maximize long-term value for shareholders, including acquisition
activity, reinvestment in the core business, share buybacks and
dividends. Since 2010, we have taken steps to eliminate non-optimized
debt structure, re-initiate a regular dividend, repurchase stock and
make strategic acquisitions. Total Shareholder Return was 185.7%
during this time period.
The Company's management, with the assistance of the Company's
advisors, will continue to carefully review these matters taking into
account, among other things, viewpoints shared with us in our
discussions with shareholders. We look forward to continuing
constructive dialogues with our shareholders and working collectively
to enhance long-term value for the Company's shareholders.
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