10:33 AM EDT, 03/20/2024 (MT Newswires) -- (Updates with dividend and stock buyback in the seventh and eighth paragraphs and the latest stock movement in the last paragraph.)

Signet Jewelers ( SIG ) reported fiscal Q4 non-GAAP earnings Wednesday of $6.73 per diluted share, up from $5.52 a year earlier.

Analysts polled by Capital IQ expected $6.39.

Total sales for the quarter ended Feb. 3 were $2.50 billion, down from $2.67 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.55 billion.

For Q1, the diamond jewelry retailer expects total sales of $1.47 billion to $1.53 billion. Analysts surveyed by Capital IQ expect $1.61 billion.

For fiscal 2025, the company expects non-GAAP earnings of $9.08 to $10.48 per diluted share on sales of $6.66 billion to $7.02 billion. Analysts surveyed by Capital IQ expect non-GAAP earnings of $10.47 on sales of $7.15 billion.

The company's board raised its quarterly dividend to $0.29 per share from $0.23 previously, payable May 24 to shareholders of record as of April 26.

Additionally, Signet said its board has approved the expansion of the remaining multi-year stock buyback authorization by $200 million to a total remaining authorization of roughly $850 million.

Shares of the company were down nearly 12% in recent Wednesday trading.

Price: 90.45, Change: -12.01, Percent Change: -11.72