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Stockholders' Equity
 9 Months Ended
Apr. 30, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stock Repurchase Program
As of April 30, 2016 and June 8, 2016, we were authorized to repurchase up to an additional $8,664,000 of our common stock, pursuant to our current $100,000,000 stock repurchase program. 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.

There were no repurchases of our common stock during the nine months ended April 30, 2016. During the nine months ended April 30, 2015, we repurchased 175,735 shares of our common stock in open-market transactions with an average price per share of $28.39 and at an aggregate cost of $4,989,000 (including transaction costs).

Dividends
The current targeted dividend amount that was established by our Board of Directors for fiscal 2016 is $1.20 per common share.

During the nine months ended April 30, 2016, our Board of Directors declared quarterly dividends of $0.30 per common share on September 28, 2015, December 9, 2015 and March 10, 2016, which were paid to shareholders on November 20, 2015, February 17, 2016, and May 20, 2016, respectively.

On June 8, 2016, our Board of Directors declared a dividend of $0.30 per common share, payable on August 19, 2016, to shareholders of record at the close of business on July 18, 2016.