SUBSEQUENT EVENTS

12 Months Ended

Jan. 31, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

SUBSEQUENT EVENTS

Subsequent to January 31, 2015 and through March 24, 2015, the Company repurchased an additional 0.2 million shares for approximately $13.3 million, which brought the total under the 2014 Share Repurchase Program to approximately $73.5 million.

The Company's Board of Directors authorized a quarterly cash dividend of $0.15 per share to be paid April 30, 2015 for shareholders of record on the close of business on April 9, 2015. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company’s Board of Directors based on a number of factors, including business and market conditions, the Company’s future financial performance and other investment priorities.

On January 7, 2015, the Board approved an additional $100 million share repurchase authorization as part of the Company’s strategy to return excess capital to shareholders. This share repurchase authorization permits the Company to repurchase shares in the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, and other market and business conditions, and the Company may suspend or discontinue the program at any time, and may thereafter reinstitute purchases, all without prior announcement.