Shareholders' Equity

3 Months Ended

Oct. 31, 2013

Shareholders' Equity [Abstract]

Shareholders' Equity

Note E – Shareholders’ Equity

The Company’s Board of Directors authorized the repurchase of 15.0 million shares of common stock on September 25, 2013.  During the three months ended October 31, 2013, the Company repurchased 339,000 shares for $12.1 million at an average price of $35.76 per share.  As of October 31, 2013, the Company had remaining authorization to repurchase up to 14.7 million shares pursuant to the current authorization.

On November 22, 2013, the Company’s Board of Directors declared a cash dividend in the amount of $0.14 per common share, payable to stockholders of record on December 9, 2013. The dividend will be paid on December 20, 2013.