Shareholders' Equity

12 Months Ended

Jul. 31, 2020

Stockholders' Equity Note [Abstract]

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. This repurchase authorization is effective until terminated by the Board of Directors. During the year ended July 31, 2020, the Company repurchased 2.0 million shares for $94.3 million. During the year ended July 31, 2019, the Company repurchased 2.6 million shares for $129.2 million. As of July 31, 2020, the Company had remaining authorization to repurchase 10.7 million shares under this plan.

Treasury stock share activity for the years ended July 31, 2020 and 2019 is summarized as follows:


	Year Ended July 31,
	2020	2019
Beginning balance	24,324,483	22,871,145
Stock repurchases	2,030,545	2,636,554
Net issuance upon exercise of stock options	(833,168)	(1,057,604)
Issuance under compensation plans	(198,120)	(104,483)
Other activity	(19,225)	(21,129)
Ending balance	25,304,515	24,324,483

Dividends paid per share were 84.0 cents and 78.0 cents for the years ended July 31, 2020 and 2019, respectively. Dividends payable were $26.6 million and $26.9 million for the years ended July 31, 2020 and 2019, respectively.

On July 31, 2020, the Company’s Board of Directors declared a cash dividend in the amount of 21.0 cents per common share, payable August 31, 2020, to shareholders of record as of August 17, 2020.