Shareholders' Equity

12 Months Ended

Sep. 30, 2016

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

The Company's articles of incorporation authorized 300 million shares of common stock and 10 million shares of preferred stock, each with a par value of $0.01 per share. On July 1, 2015, Edgewell distributed 62,193,281 shares of Energizer Holdings, Inc. common stock to its shareholders. Each Edgewell common stockholder of record as of the close of business on June 16, 2015, the record date for the distribution, received one share in Energizer for each share of Edgewell common stock they held.

As of September 30, 2016, approximately 1.7 million shares were reserved for issuance under the Equity Incentive Plan. There were no preferred stock issued or outstanding as of September 30, 2016.

On July 1, 2015, the Company's Board of Directors approved an authorization for Energizer to acquire up to 7.5 million shares of its common stock. During the twelve months ended September 30, 2016, the Company repurchased 832,971 shares for $32.6, at an average price of $39.06 per share, under this authorization. At September 30, 2016, the Company had a current liability of $0.8 for a portion of these repurchases with the cash payment occurring in the first three days of fiscal 2017. Subsequent to fiscal year end, the Company repurchased an additional 17,029 shares for $0.8 at an average price of $49.32. Future share repurchases, if any, would be made on the open market and the timing and the amount of any purchases will be determined by the Company based on its evaluation of the market conditions, capital allocation objectives, legal and regulatory requirements and other factors.

For the twelve months ended September 30, 2016, total dividends declared and paid to shareholders were $63.7 of which $62.7 was paid. The unpaid dividends were associated with unvested restricted shares and were recorded in other liabilities. For the twelve months ended September 30, 2015, total dividends declared to shareholders were $16.2 of which $15.5 was paid.

Subsequent to the fiscal year end, on November 14, 2016, the Board of Directors declared a dividend for the first quarter of fiscal 2017 of $0.275 per share of common stock, payable on December 15, 2016, to all shareholders of record as of the close of business on November 30, 2016.