Note 7 — Reconciliation of Weighted Average Shares Outstanding and Share Repurchases

A reconciliation of the shares used in the computation of earnings per share follows:

	Three Months Ended January 31,				Nine Months Ended January 31,
	2019		2018		2019		2018
Weighted average shares outstanding		57,200		57,170		57,383		57,123
Less: Unvested restricted shares		(42)		(135)		(53)		(144)
Shares used for basic earnings per share		57,158		57,035		57,330		56,979
Dilutive effect of stock options and other stock awards		468		836		552		757
Shares used for diluted earnings per share		57,626		57,871		57,882		57,736

Since their inclusion in the calculation of diluted earnings per share would have been anti-dilutive, options to purchase 154,385 shares of Class A Common Stock have been excluded for the three and nine months ended January 31, 2019, respectively and 255,187 shares of Class A Common Stock have been excluded for the nine months ended January 31, 2018. There were no options excluded for the three months ended January 31, 2018.

Warrants to purchase 470,000 and 158,148 shares of Class A Common Stock have not been included for the three and nine months ended January 31, 2019, respectively. There were no warrants issued during the three and nine months ended January 31, 2018.

There were no restricted shares excluded for the three and nine months ended January 31, 2019. There were no restricted shares excluded for the three months ended January 31, 2018 and there were 26,740 restricted shares excluded for the nine months ended January 31, 2018, respectively.

Share Repurchases and Dividends

During the three months ended January 31, 2019, we repurchased 208,711 shares of Class A Common stock at an average price of $47.91. During the three months ended January 31, 2018, we did not repurchase any shares of common stock.

During the nine months ended January 31, 2019 and 2018, we repurchased 633,831 and 550,757 shares of Class A Common stock, respectively, at an average price of $55.21 and $53.12, respectively.

The following table summarizes the cash dividends paid during the nine months ended January 31, 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