Stockholders' Equity

3 Months Ended

Oct. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchase Program

As of October 31, 2015 and December 8, 2015, we were authorized to repurchase up to an additional $8,664,000 of our common stock, pursuant to our current $100,000,000 stock repurchase program. Our stock repurchase program has no time restrictions and repurchases may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans.

There were no repurchases of our common stock during the three months ended October 31, 2015 and 2014.

Dividends

Since September 2010, we have paid quarterly dividends pursuant to an annual targeted dividend amount that was established by our Board of Directors which is currently set at $1.20 per common share.

On September 28, 2015, our Board of Directors declared a quarterly dividend of $0.30 per common share which was paid to shareholders on November 20, 2015.

On December 9, 2015, our Board of Directors declared a dividend of $0.30 per common share, payable on February 17, 2016, to shareholders of record at the close of business on January 15, 2016.