Shareholders' Equity

9 Months Ended

Apr. 30, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

In fiscal 2019, 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 nine months ended April 30, 2020, the Company repurchased 2.0 million shares for $94.3 million. As of April 30, 2020, the Company had remaining authorization to repurchase 10.7 million shares under this plan.

Dividends paid per share were 63.0 cents and 57.0 cents for the nine months ended April 30, 2020 and 2019, respectively.

On May 29, 2020, the Company’s Board of Directors declared a cash dividend in the amount of 21.0 cents per common share, payable June 30, 2020, to shareholders of record as of June 15, 2020.