Stockholders' Equity

3 Months Ended

Oct. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(18)    Stockholders’ Equity

Stock Repurchase Program

During the three months ended October 31, 2013, we repurchased 124,753 shares of our common stock in open-market transactions with an average price per share of $28.73 and at an aggregate cost of $3,585,000 (including transaction costs). There were no repurchases of our common stock during the three months ended October 31, 2012.

As of October 31, 2013, we were authorized to repurchase up to an additional $30,752,000 of our common stock, pursuant to a $50,000,000 stock repurchase program that was authorized by our Board of Directors in December 2012 (which, effective December 9, 2013 has been increased to $100,000,000). Our 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 December 9, 2013, approximately $71,000,000 remains available for repurchases of our common stock.

Dividends

Since September 2010, we have paid quarterly dividends pursuant to an annual targeted dividend amount that was established by our Board of Directors. On October 3, 2013, our Board of Directors declared a quarterly dividend of $0.275 per common share, which was paid to shareholders on November 19, 2013.

On December 9, 2013, our Board of Directors increased our annual target dividend from $1.10 per common share to $1.20 per common share and, in connection with this target, declared a dividend of $0.30 per common share payable, on February 19, 2014, to shareholders of record at the close of business on January 17, 2014.