Stockholders' Equity

9 Months Ended

Jun. 30, 2017

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

The Company has an automatically effective universal shelf registration statement, filed with the SEC in August 2015, registering debt and equity securities that it may issue from time to time in amounts to be determined.

Effective August 1, 2016, the Board of Directors authorized the repurchase of up to $100 million of the Company’s common stock effective through July 31, 2017. During the three months ended June 30, 2017, the Company repurchased 1,850,000 shares of its common stock for $60.6 million, resulting in a remaining authorization of $39.4 million at June 30, 2017. In July 2017, the Board of Directors authorized the repurchase of up to $200 million of the Company’s common stock effective through July 31, 2018, which replaced the previous authorization.

During the three months ended June 30, 2017, the Board of Directors approved a quarterly cash dividend of $0.10 per common share, which was paid on May 19, 2017 to stockholders of record on May 5, 2017. In July 2017, the Board of Directors approved a quarterly cash dividend of $0.10 per common share, payable on August 23, 2017 to stockholders of record on August 9, 2017. Quarterly cash dividends of $0.08 per common share were approved and paid in the comparable quarters of fiscal 2016.