Stockholders' Equity

3 Months Ended

Oct. 31, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Shelf Registration

On July 13, 2022, we filed a $200,000,000 shelf registration statement with the SEC for the sale of various types of securities, including debt. The shelf registration was declared effective by the SEC as of July 25, 2022. To-date, we have not issued any securities pursuant to our $200,000,000 shelf registration statement.

Common Stock Repurchase Program

On September 29, 2020, our Board of Directors authorized a new $100,000,000 stock repurchase program, which replaced our prior program. The new $100,000,000 stock repurchase program has no time restrictions and repurchases may be made from time to time in open-market or privately negotiated transactions, or by other means in accordance with federal securities laws. There were no repurchases of our common stock during the three months ended October 31, 2022 or 2021.

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 September 29, 2022, our Board of Directors declared a dividend of $0.10 per common share, which was paid on November 18, 2022. On December 8, 2022, our Board of Directors declared a dividend of $0.10 per common share, payable on February 17, 2023 to stockholders of record at the close of business on January 18, 2023. Future dividends remain subject to compliance with financial covenants under our Amended Credit Facility, as well as Board approval and certain voting rights of holders of our Series A Convertible Preferred Stock.