Shareholders' Equity

6 Months Ended

Jan. 31, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The Company’s Board of Directors authorized the repurchase of up to 14.0 million shares of common stock on May 29, 2015. During the six months ended January 31, 2017, the Company repurchased 1.4 million shares for $51.8 million at an average price of $37.56 per share. As of January 31, 2017, the Company had remaining authorization to repurchase up to 9.1 million shares.

On January 27, 2017, the Company's Board of Directors declared a cash dividend in the amount of 17.5 cents per common share, paid on March 3, 2017 to stockholders of record on February 14, 2017.