Capital Stock and Changes in Capital Accounts

12 Months Ended

Apr. 30, 2024

Stockholders' Equity Note [Abstract]

Capital Stock and Changes in Capital Accounts

Capital Stock and Changes in Capital Accounts

Wiley has two classes of common stock, Class A and Class B. Each share of our Class B Common Stock is convertible into one share of Class A Common Stock. The holders of Class A stock are entitled to elect 30% of the entire Board of Directors and the holders of Class B stock are entitled to elect the remainder. On all other matters, each share of Class A stock is entitled to one tenth of one vote and each share of Class B stock is entitled to one vote.

Share Repurchases

During the year ended April 30, 2020, our Board of Directors approved a share repurchase program of $200 million of Class A or B Common Stock. As of April 30, 2024, we had authorization from our Board of Directors to purchase up to $117.4 million that was remaining under this program.

The share repurchase program described above is in addition to the share repurchase program approved by our Board of Directors during the year ended April 30, 2017 of four million shares of Class A or B Common Stock. As of April 30, 2022, no additional shares were remaining under this program for purchase.

The following table summarizes the share repurchases of Class A and B Common Stock during the years ended April 30 (shares in thousands):

	2024		2023		2022
Shares repurchased – Class A	1,294		831		542
Shares repurchased – Class B	3		1		2
Average price – Class A and Class B	$	34.71	$	42.07	$	55.14

Dividends

We declared a quarterly cash dividend on our Class A and Class B Common Stock during each of the quarters of fiscal years 2024, 2023, and 2022. During each of the years ended April 30, 2024, 2023, and 2022, we paid total annual dividends of $77.0 million, $77.3 million, and $77.2 million, respectively.

Changes in Common Stock

The following is a summary of changes during the years ended April 30, in shares of our common stock and common stock in treasury (shares in thousands).

Changes in Class A Common Stock:	2024	2023	2022
Number of shares, beginning of year	70,231	70,226	70,208
Common stock class conversions	28	5	18
Number of shares issued, end of year	70,259	70,231	70,226
Changes in Class A Common Stock in treasury:
Number of shares held, beginning of year	23,983	23,515	23,419
Restricted shares issued under stock-based compensation plans	(662)	(544)	(433)
Impact of tax withholding on stock-based compensation and other	213	181	116
Purchases of treasury shares	1,294	831	542
Shares issued related to the acquisition of a business	—	—	(129)
Number of shares held, end of year	24,828	23,983	23,515
Number of Class A Common Stock outstanding, end of year	45,431	46,248	46,711

Changes in Class B Common Stock:	2024	2023	2022
Number of shares, beginning of year	12,951	12,956	12,974
Common stock class conversions	(28)	(5)	(18)
Number of shares issued, end of year	12,923	12,951	12,956
Changes in Class B Common Stock in treasury:
Number of shares held, beginning of year	3,925	3,924	3,922
Purchases of treasury shares	3	1	2
Number of shares held, end of year	3,928	3,925	3,924
Number of Class B Common Stock outstanding, end of year	8,995	9,026	9,032