Shareholders' Equity

3 Months Ended

Oct. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The Company’s Board of Directors authorized the repurchase of up to 13.0 million shares of common stock under the Company’s stock repurchase plan. This repurchase authorization is effective until terminated by the Board of Directors. During the three months ended October 31, 2019, the Company repurchased 1.4 million shares for $65.0 million. As of October 31, 2019, the Company had remaining authorization to repurchase 11.4 million shares under this plan.

Dividends paid per share were 21.0 cents and 19.0 cents, respectively, for the three months ended October 31, 2019 and 2018.

On November 22, 2019, the Company's Board of Directors declared a cash dividend in the amount of 21.0 cents per common share, payable December 27, 2019, to shareholders of record as of December 10, 2019.