Stockholders' Equity

3 Months Ended

Oct. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 10. Stockholders’ Equity

Share Repurchases

In May 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 three months ended October 31, 2023, the Company repurchased 0.9 million shares for $53.7 million. During the three months ended October 31, 2022, the Company repurchased 0.9 million shares for $45.7 million. As of October 31, 2023, the Company had remaining authorization to repurchase 2.0 million shares under this plan.

On November 17, 2023, the Board of Directors authorized the repurchase of up to 12.0 million shares of common stock under the Company’s stock repurchase plan. This repurchase authorization was effective immediately and will expire or terminate only upon action by the Board of Directors. The remaining shares under the May 2019 authorization were terminated.

Dividends

Dividends paid were 25.0 cents and 23.0 cents per common share for the three months ended October 31, 2023 and 2022, respectively.

On November 17, 2023, the Company’s Board of Directors declared a cash dividend in the amount of 25.0 cents per common share, payable December 20, 2023, to shareholders of record as of December 5, 2023