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Subsequent Events
9 Months Ended
Jan. 31, 2015
Subsequent Events

10. Subsequent Events

On February 12, 2015, the Company entered into a definitive agreement to acquire Pivot Leadership, a global provider of innovative, customized and scalable executive development programs, for $15.0 million in cash, subject to certain adjustments and up to $6.5 million in additional contingent consideration for the achievement of certain revenue targets, payable if at all, in four installments in fiscal 2016 to 2019. The acquisition closed effective March 1, 2015.

On March 4, 2015, the Board of Directors of the Company declared the first quarterly cash dividend under its recently adopted dividend policy. The dividend of $0.10 per share will be paid on April 9, 2015 to holders of the Company’s common stock of record at the close of business on March 25, 2015. The declaration and payment of future dividends under the quarterly dividend policy will be at the discretion of the Board of Directors and will depend upon many factors, including the Company’s earnings, capital requirements, financial conditions, the terms of the Company’s indebtedness and other factors that the Board of Directors may deem to be relevant. The Board may amend, revoke or suspend the dividend policy at any time and for any reason.