Shareholders' Equity

12 Months Ended

Jul. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Treasury Stock The Company’s Board of Directors authorized the repurchase of up to 13.0 million shares of common stock under the Company’s stock repurchase plan dated May 31, 2019, replacing the Company’s previous stock repurchase plan dated May 29, 2015. This repurchase authorization is effective until terminated by the Board of Directors. As of July 31, 2019, the Company had remaining authorization to repurchase 12.8 million shares under this plan. During the year ended July 31, 2019, the Company repurchased 2.6 million shares for $129.2 million. During the year ended July 31, 2018, the Company repurchased 2.6 million shares for $122.0 million.

Treasury stock share activity for the years ended July 31, 2019 and 2018 is summarized as follows:

	Year Ended July 31,
	2019		2018
Beginning balance	22,871,145		21,037,353
Stock repurchases	2,636,554		2,642,690
Net issuance upon exercise of stock options	(1,057,604	)	(723,677	)
Issuance under compensation plans	(104,483	)	(78,304	)
Other activity	(21,129	)	(6,917	)
Ending balance	24,324,483		22,871,145

On July 26, 2019, the Company’s Board of Directors declared a cash dividend in the amount of 21.0 cents per common share, payable August 29, 2019, to shareholders of record as of August 13, 2019.