Stockholders' Equity

3 Months Ended

Oct. 31, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Sale of Common Stock

In December 2018, we filed a $400,000,000 shelf registration statement with the SEC for the sale of various types of securities, including debt. The shelf registration was declared effective by the SEC as of December 14, 2018. To date, we have not issued any securities pursuant to our $400,000,000 shelf registration statement.

Stock Repurchase Program

As of October 31, 2019 and December 4, 2019, 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 made during the three months ended October 31, 2019 or 2018.

Dividends

Since September 2010, we have paid quarterly dividends pursuant to an annual targeted dividend amount that was established by our Board of Directors. On September 24, 2019, our Board of Directors declared a dividend of $0.10 per common share, which was paid on November 15, 2019. On December 4, 2019, our Board of Directors declared a dividend of $0.10 per common share, payable on February 14, 2020 to stockholders of record at the close of business on January 15, 2020.

Future dividends remain subject to compliance with financial covenants under our Credit Facility as well as Board approval.