Stockholders' Equity

6 Months Ended

Jan. 31, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Sale of Common Stock

In connection with an original $175,000,000 shelf registration filed with the SEC on December 15, 2015, we sold 7,145,000 shares of our common stock in a public offering at a price of $14.00 per share in June 2016, resulting in proceeds to us of $95,029,000, net of underwriting discounts and commissions. As such shelf registration was due to expire, in December 2018, we filed a new $400,000,000 shelf registration with the SEC for the sale of various types of securities, including debt. The new shelf registration was declared effective by the SEC as of December 14, 2018.  To-date, we have not issued any securities related to our new $400,000,000 shelf registration.

Stock Repurchase Program

As of January 31, 2019 and March 6, 2019, we were authorized to repurchase up to an additional $8,664,000 of our common stock, pursuant to our current $100,000,000 stock repurchase program. 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. There were no repurchases made during the three or six months ended January 31, 2019 or 2018.

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 September 26, 2018 and December 6, 2018, our Board of Directors declared a dividend of $0.10 per common share, which was paid on November 16, 2018 and February 15, 2019, respectively. On March 6, 2019, our Board of Directors declared a dividend of $0.10 per common share, payable on May 17, 2019 to stockholders of record at the close of business on April 17, 2019.

Future dividends remain subject to compliance with financial covenants under our Credit Facility as well as Board approval.