XML 69 R25.htm IDEA: XBRL DOCUMENT v3.23.2
COMMON STOCK
 12 Months Ended
Jun. 30, 2023
Equity [Abstract]  
COMMON STOCK COMMON STOCK
As of June 30, 2023, the Company’s authorized common stock consists of 1,300 million shares of Class A Common Stock, par value $.01 per share, and 304 million shares of Class B Common Stock, par value $.01 per share. Class B Common Stock is convertible into Class A Common Stock, in whole or in part, at any time and from time to time at the option of the holder, on the basis of one share of Class A Common Stock for each share of Class B Common Stock converted. Holders of the Company’s Class A Common Stock are entitled to one vote per share and holders of the Company’s Class B Common Stock are entitled to ten votes per share.
Information about the Company’s common stock outstanding is as follows:
(Shares in thousands)Class AClass B
Balance at June 30, 2020225,290.2 135,235.4 
Acquisition of treasury stock(2,580.5)— 
Conversion of Class B to Class A6,993.4 (6,993.4)
Stock-based compensation3,814.3 — 
Balance at June 30, 2021233,517.4 128,242.0 
Acquisition of treasury stock(7,393.6)— 
Conversion of Class B to Class A2,700.0 (2,700.0)
Stock-based compensation2,689.7 — 
Balance at June 30, 2022231,513.5 125,542.0 
Acquisition of treasury stock(1,220.7)— 
Conversion of Class B to Class A— — 
Stock-based compensation1,785.1 — 
Balance at June 30, 2023232,077.9 125,542.0 

The Company is authorized by the Board of Directors to repurchase Class A Common Stock in the open market or in privately negotiated transactions, depending on market conditions and other factors. As of June 30, 2023, the remaining authorized share repurchase balance was 25.1 million shares.

The following is a summary of cash dividends declared per share on the Company’s Class A and Class B Common Stock during the year ended June 30, 2023:
Date DeclaredRecord DatePayable DateAmount per Share
August 17, 2022August 31, 2022September 15, 2022$.60 
November 1, 2022November 30, 2022December 15, 2022$.66 
February 1, 2023February 28, 2023March 15, 2023$.66 
May 2, 2023May 31, 2023June 15, 2023$.66 

On August 17, 2023, a dividend was declared in the amount of $.66 per share on the Company's Class A and Class B Common Stock. The dividend is payable in cash on September 15, 2023 to stockholders of record at the close of business on August 31, 2023.