Stockholders' Equity

6 Months Ended

Jan. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchase Program

As of January 31, 2016 and March 9, 2016, 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 six months ended January 31, 2016 and 2015.

Dividends

The current targeted dividend amount that was established by our Board of Directors for fiscal 2016 is $1.20 per common share.

During the six months ended January 31, 2016, our Board of Directors declared quarterly dividends of $0.30 per common share on September 28, 2015 and December 9, 2015, which were paid to shareholders on November 20, 2015 and February 17, 2016, respectively.

On March 10, 2016, our Board of Directors declared a dividend of $0.30 per common share, payable on May 20, 2016, to shareholders of record at the close of business on April 20, 2016.