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Capital Stock and Changes in Capital Accounts | 12 Months Ended
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Apr. 30, 2021
Capital Stock and Changes in Capital Accounts [Abstract] |
Capital Stock and Changes in Capital Accounts | Note 19 – 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. Share Repurchases During the year ended April 30, 2020, our Board of Directors approved an additional share repurchase program of $200 million of Class A or B Common Stock. As of April 30, 2021, we had authorization from our Board of Directors to purchase up to $200 million that was remaining under this program. No share repurchases were made under this program during the years ended April 30, 2021 and 2020. The share repurchase program described above is in addition to the share repurchase program approved by our Board of Directors during the year ended April 30, 2017 of four million shares of Class A or B Common Stock. As of April 30, 2021, we had authorization from our Board of Directors to purchase up to 497,197 additional shares that were remaining under this program. The following table summarizes the shares repurchased of Class A and B Common Stock during the years ended April 30 (shares in thousands):
|  | 2021 |  |  | 2020 |  |  | 2019 |
Shares repurchased – Class A |  |  | 308 |  |  |  | 1,080 |  |  |  | 1,191 |
Shares repurchased – Class B |  |  | 2 |  |  |  | 2 |  |  |  | — |
Average price – Class A and Class B |  | $ | 50.93 |  |  | $ | 43.05 |  |  | $ | 50.35 |
Dividends The following table summarizes the cash dividends paid during the year ended April 30, 2021:
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 25, 2020 | $0.3425 per common share | $19.2 million | Class A and Class B | July 22, 2020 | July 7, 2020
September 23, 2020 | $0.3425 per common share | $19.2 million | Class A and Class B | October 21, 2020 | October 6, 2020
December 16, 2020 | $0.3425 per common share | $19.2 million | Class A and Class B | January 13, 2021 | December 30, 2020
March 24, 2021 | $0.3425 per common share | $19.1 million | Class A and Class B | April 21, 2021 | April 6, 2021
Changes in Common Stock 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: |  | 2021 |  |  | 2020 |  |  | 2019 |
Number of shares, beginning of year |  |  | 70,166 |  |  |  | 70,127 |  |  |  | 70,111 |
Common stock class conversions |  |  | 42 |  |  |  | 39 |  |  |  | 16 |
Number of shares issued, end of year |  |  | 70,208 |  |  |  | 70,166 |  |  |  | 70,127 |
Changes in Common Stock A in treasury: |  |  |  |  |  |  |  |  |  |  |  |
Number of shares held, beginning of year |  |  | 23,405 |  |  |  | 22,634 |  |  |  | 21,853 |
Purchase of treasury shares |  |  | 308 |  |  |  | 1,080 |  |  |  | 1,192 |
Restricted shares issued under stock-based compensation plans - non-PSU Awards |  |  | (268 | ) |  |  | (232 | ) |  |  | (205 | )
Restricted shares issued under stock-based compensation plans - PSU Awards |  |  | (88 | ) |  |  | (68 | ) |  |  | (110 | )
Shares issued under the Director Plan to Directors |  |  | (6 | ) |  |  | (97 | ) |  |  | (5 | )
Restricted shares, forfeited |  |  | — |  |  |  | 1 |  |  |  | 9 |
Restricted shares issued from exercise of stock options |  |  | (60 | ) |  |  | (34 | ) |  |  | (229 | )
Shares withheld for taxes |  |  | 129 |  |  |  | 122 |  |  |  | 130 |
Other |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Number of shares held, end of year |  |  | 23,419 |  |  |  | 23,405 |  |  |  | 22,634 |
Number of Common Stock A outstanding, end of year |  |  | 46,789 |  |  |  | 46,761 |  |  |  | 47,493 |
Changes in Common Stock B: |  | 2021 |  |  | 2020 |  |  | 2019 |
Number of shares, beginning of year |  |  | 13,016 |  |  |  | 13,055 |  |  |  | 13,071 |
Common stock class conversions |  |  | (42 | ) |  |  | (39 | ) |  |  | (16 | )
Number of shares issued, end of year |  |  | 12,974 |  |  |  | 13,016 |  |  |  | 13,055 |
Changes in Common Stock B in treasury: |  |  |  |  |  |  |  |  |  |  |  |
Number of shares held, beginning of year |  |  | 3,920 |  |  |  | 3,918 |  |  |  | 3,918 |
Shares repurchased |  |  | 2 |  |  |  | 2 |  |  |  | — |
Number of shares held, end of year |  |  | 3,922 |  |  |  | 3,920 |  |  |  | 3,918 |
Number of Common Stock B outstanding, end of year |  |  | 9,052 |  |  |  | 9,096 |  |  |  | 9,137 |

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