Stockholders' Equity

12 Months Ended

Jul. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(17) Stockholders’ Equity

Stock Repurchase Program

During the fiscal year ended July 31, 2013, we repurchased 1,044,442 shares of our common stock in open-market transactions with an average price per share of $25.81 and at an aggregate cost of $26,954,000 (including transaction costs).

As of July 31, 2013, we were authorized to repurchase up to an additional $34,334,000 of our common stock, pursuant to our current $50,000,000 stock repurchase program that was authorized by our Board of Directors in December 2012. The $50,000,000 stock repurchase program has no time restrictions and repurchases may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans. As of October 2, 2013, $34,334,000 remains available for repurchases of our common stock.

In February 2013, we completed a $250,000,000 stock repurchase program that was authorized by our Board of Directors in September 2011.

In fiscal 2012, we purchased 7,055,614 shares with an average price per share of $30.81, at an aggregate cost of $217,374,000 (including transaction costs).

Dividends

In September 2011, our Board of Directors raised our annual targeted dividend from $1.00 per common share to $1.10 per common share.

During the fiscal year ended July 31, 2013, our Board of Directors declared quarterly dividends of $0.275 per common share on September 26, 2012, December 6, 2012, March 7, 2013, and June 6, 2013 which were paid to shareholders on November 20, 2012, December 27, 2012, May 21, 2013 and August 20, 2013, respectively. During the fiscal year ended July 31, 2012, our Board of Directors declared four quarterly cash dividends of $0.275 per common share.

On October 3, 2013, our Board of Directors declared a dividend of $0.275 per common share, payable on November 19, 2013 to shareholders of record at the close of business on October 18, 2013.