Stock Repurchase Program and Cash Dividend

6 Months Ended

Apr. 30, 2019

Stock Repurchase Program and Cash Dividends

Stock Repurchase Program

On December 12, 2018, our Board of Directors terminated our existing 20 million share repurchase program, which was authorized in December 2017, and authorized, under a new repurchase program, the repurchase of 20 million shares of our common stock in open market transactions or otherwise for general corporate purposes, including to obtain shares for the Company’s equity award and other employee benefit plans. Our Board of Directors did not fix any expiration date for this repurchase program.

The table below provides, for the periods indicated, information about our share repurchase programs:



	Six months ended April 30,				Three months ended April 30,
	2019		2018		2019		2018
Number of shares purchased (in thousands)	788		6,221		3		1,794
Average price per share	$	32.04	$	46.86	$	36.95	$	45.44
Remaining authorization at April 30 (in thousands)	19,784		16,876		19,784		16,876

Subsequent to April 30, 2019 and through June 5, 2019, we repurchased approximately 2.5 million shares of our common stock at an average price of $35.70 per share.

Cash Dividends

On February 21, 2017, our Board of Directors approved the initiation of quarterly cash dividends to shareholders. During the six months ended April 30, 2019 and 2018, we declared and paid aggregate cash dividends of $0.22 and $0.19 per share, respectively, to our shareholders. During the three months ended April 30, 2019 and 2018, we declared and paid cash dividends $0.11 and $0.08 per share, respectively, to our shareholders.