Stock Repurchase Program and Cash Dividend

9 Months Ended

Jul. 31, 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:



	Nine months ended July 31,				Three months ended July 31,
	2019		2018		2019		2018
Number of shares purchased (in thousands)	4,767		9,874		3,979		3,653
Average price per share	$	35.13	$	43.30	$	35.74	$	37.24
Remaining authorization at July 31 (in thousands)	15,805		13,223		15,805		13,223

Subsequent to July 31, 2019, we repurchased approximately 1.8 million shares of our common stock at an average price of $35.63 per share.

Cash Dividends

On February 21, 2017, our Board of Directors approved the initiation of quarterly cash dividends to shareholders. During the nine months ended July 31, 2019 and 2018, we declared and paid aggregate cash dividends of $0.33 and $0.30 per share, respectively, to our shareholders. During the three months ended July 31, 2019 and 2018, we declared and paid cash dividends $0.11 per share to our shareholders.