Stockholders' Equity

9 Months Ended

Apr. 30, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 10. Stockholders’ Equity

Share Repurchases

The Company’s Board of Directors has 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, 2023, the Company repurchased 2.1 million shares for $119.3 million. During the nine months ended April 30, 2022, the Company repurchased 2.5 million shares for $153.7 million. As of April 30, 2023, the Company had remaining authorization to repurchase 3.3 million shares under this plan.

Dividends

Dividends paid were 23.0 cents and 69.0 cents per common share for the three and nine months ended April 30, 2023, respectively, and were 22.0 cents and 66.0 cents per common share for the three and nine months ended April 30, 2022, respectively.

On May 24, 2023, the Company’s Board of Directors declared a cash dividend in the amount of 25.0 cents per common share, payable June 23, 2023, to shareholders of record as of June 7, 2023