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DIVIDENDS AND STOCK REPURCHASE PROGRAMS | 12 Months Ended
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Jun. 30, 2016
Dividends And Share Repurchase Program [Abstract] |
DIVIDENDS AND SHARE REPURCHASE PROGRAMS | NOTE 7: DIVIDENDS AND STOCK REPURCHASE PROGRAMS During fiscal years 2016 and 2015, DeVry Group’s Board of Directors declared the following cash dividends:
|  |  |  |  |  |  |  |  | Total Dividend |
|  |  |  |  |  | Dividend |  | Amount |
Declaration Date |  | Record Date |  | Payment Date |  | Per Share |  | (in thousands) |
November 6, 2014 |  | December 5, 2014 |  | December 26, 2014 |  | $ | 0.18 |  | $ | 11,641 |
May 14, 2015 |  | June 5, 2015 |  | June 26, 2015 |  | $ | 0.18 |  | $ | 11,589 |
November 5, 2015 |  | December 4, 2015 |  | December 23, 2015 |  | $ | 0.18 |  | $ | 11,563 |
May 11, 2016 |  | June 3, 2016 |  | June 24, 2016 |  | $ | 0.18 |  | $ | 11,414 |
Future dividends will be at the discretion of the Board of Directors. DeVry Group has repurchased shares under the following programs as of June 30, 2016:
Date |  | Shares |  | Total Cost |
Authorized |  | Repurchased |  | (in millions) |
November 15, 2006 |  |  | 908,399 |  | $ | 35.0 |
May 13, 2008 |  |  | 1,027,417 |  |  | 50.0 |
November 11, 2009 |  |  | 972,205 |  |  | 50.0 |
August 11, 2010 |  |  | 1,103,628 |  |  | 50.0 |
November 10, 2010 |  |  | 968,105 |  |  | 50.0 |
May 20, 2011 |  |  | 2,396,143 |  |  | 100.0 |
November 2, 2011 |  |  | 3,478,299 |  |  | 100.0 |
August 29, 2012 |  |  | 2,005,317 |  |  | 62.7 |
December 15, 2015 |  |  | 869,302 |  |  | 16.1 |
Totals |  |  | 13,728,815 |  | $ | 513.8 |
DeVry Group’s eighth share repurchase program ended on December 31, 2015. A total of 622,688 shares were repurchased under the eighth share repurchase plan during the year ended June 30, 2016 for $16.5 million. On December 15, 2015, the Board authorized a ninth share repurchase program, which allows DeVry Group to repurchase up to $100 million of its common stock through December 31, 2017. A total of 869,302 shares were repurchased under the ninth share repurchase plan during the year ended June 30, 2016 for $16.1 million. The timing and amount of any repurchase will be determined based on evaluation of market conditions and other factors. These repurchases may be made through the open market, including block purchases, in privately negotiated transactions, or otherwise. The buyback will be funded through available cash balances and/or borrowings and may be suspended or discontinued at any time. Shares of stock repurchased under the programs are held as treasury shares. These repurchased shares have reduced the weighted average number of shares of common stock outstanding for basic and diluted earnings per share calculations.

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