XML 50 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity
6 Months Ended
Jan. 31, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
(18)    Stockholders’ Equity

Stock Repurchase Program
During the six months ended January 31, 2014, we repurchased 935,992 shares of our common stock in open-market transactions with an average price per share of $31.10 and at an aggregate cost of $29,107,000 (including transaction costs). During the six months ended January 31, 2013, we repurchased 397,798 shares of our common stock in open-market transactions with an average price per share of $26.34 and at an aggregate cost of $10,477,000 (including transaction costs).

As of January 31, 2014, we were authorized to repurchase up to an additional $55,247,000 of our common stock, pursuant to a stock repurchase program that was first authorized by our Board of Directors in December 2012 in the amount of $50,000,000 and increased to $100,000,000 effective December 9, 2013. Our stock repurchase program has no time restrictions and repurchases may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans. As of March 6, 2014, approximately $44,000,000 remains available for repurchases of our common stock.

Dividends
Since September 2010, we have paid quarterly dividends pursuant to an annual targeted dividend amount that was established by our Board of Directors. On December 9, 2013, our Board of Directors increased our annual target dividend from $1.10 per common share to $1.20 per common share.

During the six months ended January 31, 2014, our Board of Directors declared quarterly dividends of $0.275 per common share on October 3, 2013 and $0.30 per common share on December 9, 2013, which were paid to shareholders on November 19, 2013 and February 19, 2014, respectively.

On March 6, 2014 our Board of Directors declared a dividend of $0.30 per common share, payable on May 30, 2014, to shareholders of record at the close of business on May 7, 2014.