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Capital Stock and Changes in Capital Accounts | 12 Months Ended
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Apr. 30, 2023
Stockholders' Equity Note [Abstract] |
Capital Stock and Changes in Capital Accounts | 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, 2023, we had authorization from our Board of Directors to purchase up to $162.5 million that was remaining under this program. 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, 2022, no additional shares were remaining under this program for purchase. The following table summarizes the share repurchases of Class A and B Common Stock during the years ended April 30 (shares in thousands):
| 2023 |  | 2022 |  | 2021
Shares repurchased – Class A | 831 |  | 542 |  | 308
Shares repurchased – Class B | 1 |  | 2 |  | 2
Average price – Class A and Class B | $ | 42.07 |  |  | $ | 55.14 |  |  | $ | 50.93 |
Dividends The following table summarizes the cash dividends paid during the year ended April 30, 2023:
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 22, 2022 | $0.3475 per common share | $19.4 million | Class A and Class B | July 20, 2022 | July 6, 2022
September 29, 2022 | $0.3475 per common share | $19.3 million | Class A and Class B | October 26, 2022 | October 11, 2022
December 15, 2022 | $0.3475 per common share | $19.3 million | Class A and Class B | January 11, 2023 | December 27, 2022
March 29, 2023 | $0.3475 per common share | $19.2 million | Class A and Class B | April 25, 2023 | April 11, 2023
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 Class A Common Stock: | 2023 |  | 2022 |  | 2021
Number of shares, beginning of year | 70,226 |  | 70,208 |  | 70,166
Common stock class conversions | 5 |  | 18 |  | 42
Number of shares issued, end of year | 70,231 |  | 70,226 |  | 70,208
Changes in Class A Common Stock in treasury: |  |  |  |  |
Number of shares held, beginning of year | 23,515 |  | 23,419 |  | 23,405
Purchases of treasury shares | 831 |  | 542 |  | 308
Restricted shares issued under stock-based compensation plans – non-PSU Awards | (394) |  | (323) |  | (268)
Restricted shares issued under stock-based compensation plans – PSU Awards | (150) |  | (108) |  | (88)
Shares issued to directors | — |  | (2) |  | (6)
Restricted shares issued from exercise of stock options | (14) |  | (49) |  | (60)
Shares issued related to the acquisition of a business | — |  | (129) |  | —
Shares withheld for taxes | 195 |  | 167 |  | 129
Other | — |  | (2) |  | (1)
Number of shares held, end of year | 23,983 |  | 23,515 |  | 23,419
Number of Class A Common Stock outstanding, end of year | 46,248 |  | 46,711 |  | 46,789
Changes in Class B Common Stock: | 2023 |  | 2022 |  | 2021
Number of shares, beginning of year | 12,956 |  | 12,974 |  | 13,016
Common stock class conversions | (5) |  | (18) |  | (42)
Number of shares issued, end of year | 12,951 |  | 12,956 |  | 12,974
Changes in Class B Common Stock in treasury: |  |  |  |  |
Number of shares held, beginning of year | 3,924 |  | 3,922 |  | 3,920
Purchases of treasury shares | 1 |  | 2 |  | 2
Number of shares held, end of year | 3,925 |  | 3,924 |  | 3,922
Number of Class B Common Stock outstanding, end of year | 9,026 |  | 9,032 |  | 9,052
Warrants In connection with the acquisition of The Learning House, Inc. on November 1, 2018, a portion of the fair value of the consideration transferred was $0.6 million of warrants. The warrants were classified as equity and allowed the holder to purchase 400,000 shares of our Class A Common Stock at an exercise price of $90.00, subject to adjustments. The term of the warrants was three years and expired on November 1, 2021. The fair value of the warrants was determined using the Black-Scholes option pricing model.

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