Shareholders' Equity

9 Months Ended

Apr. 30, 2022

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Stockholders’ Equity

Share Repurchases

The Company’s Board of Directors has 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 nine months ended April 30, 2022, the Company repurchased 2.5 million shares for $153.7 million. As of April 30, 2022, the Company had remaining authorization to repurchase 5.8 million shares under this plan.

Dividends Paid and Declared

Dividends paid were 22.0 cents and 66.0 cents per share for the three and nine months ended April 30, 2022, respectively, and were 21.0 cents and 63.0 cents for the three and nine months ended April 30, 2021, respectively.

On May 25, 2022, the Company’s Board of Directors declared a cash dividend in the amount of 23.0 cents per common share, payable June 24, 2022, to shareholders of record as of June 9, 2022.