Note 18 – Capital Stock and Changes in Capital Accounts

Each share of our Class B Common Stock is convertible into one share of Class A Common Stock. The holders of Class A stock are entitled to elect 30% of the entire Board of Directors and the holders of Class B stock are entitled to elect the remainder. On all other matters, each share of Class A stock is entitled to one tenth of one vote and each share of Class B stock is entitled to one vote.

During the year ended April 30, 2017, our Board of Directors approved an additional share repurchase program of four million shares of Class A or B Common Stock. We repurchased in the year ended April 30, 2019 1,191,496 Class A shares at an average price of $50.35 per share. In the year ended April 30, 2018, we repurchased 713,177 shares at an average price of $55.65 per share. In the year ended April 30, 2017, we repurchased 953,188 shares, which included 952,667 Class A shares and 521 Class B shares at an average price of $52.80 per share. As of April 30, 2019, we had authorization from our Board of Directors to purchase up to 1,888,975 additional shares.

The following is a summary of changes during the years ended April 30, in shares of our common stock and common stock in treasury (shares in thousands).

Changes in Common Stock A:	2019		2018		2017
Number of shares, beginning of year		70,111		70,086		69,798
Common stock class conversions and other		16		25		288
Number of shares issued, end of year		70,127		70,111		70,086

Changes in Common Stock A in treasury:
Number of shares held, beginning of year		21,853		22,097		21,709
Purchase of treasury shares		1,192		713		953
Restricted shares issued under stock-based compensation plans - non-PSU Awards		(210)		(153)		(74)
Restricted shares issued under stock-based compensation plans - PSU Awards		(110)		(126)		(186)
Stock grants of fully vested Class A shares - common stock		—		(20)		(24)
Restricted shares, forfeited		9		15		8
Restricted shares issued from exercise of stock options		(229)		(788)		(469)
Shares withheld for taxes		130		116		97
Other		(1)		(1)		83
Number of shares held, end of year		22,634		21,853		22,097
Number of Common Stock A outstanding, end of year		47,493		48,258		47,989

Changes in Common Stock B:	2019		2018		2017
Number of shares, beginning of year		13,071		13,096		13,392
Common stock class conversions and other		(16)		(25)		(296)
Number of shares issued, end of year		13,055		13,071		13,096

Changes in Common Stock B in treasury:
Number of shares held, beginning of year		3,918		3,918		3,917
Shares repurchased		—		—		1
Number of shares held, end of year		3,918		3,918		3,918
Number of Common Stock B outstanding, end of year		9,137		9,153		9,178

The following table summarizes the cash dividends paid during the year ended April 30, 2019:

Date of Declaration by Board of Directors	Quarterly Cash Dividend	Total Dividend	Class of Common Stock	Dividend Paid Date	Shareholders of Record as of Date
June 21, 2018	$0.33 per common share	$19.0 million	Class A and Class B	July 18, 2018	July 3, 2018
September 26, 2018	$0.33 per common share	$18.9 million	Class A and Class B	October 24, 2018	October 9, 2018
December 19, 2018	$0.33 per common share	$18.9 million	Class A and Class B	January 16, 2019	January 2, 2019
March 20, 2019	$0.33 per common share	$18.6 million	Class A and Class B	April 17, 2019	April 2, 2019