Shareholders' Equity

6 Months Ended

Jan. 31, 2015

Shareholders' Equity [Abstract]

Shareholders' Equity

Note E – Shareholders’ Equity

    The Company’s Board of Directors authorized the repurchase of up to 15.0 million shares of common stock on September 27, 2013.  During the three months ended January 31, 2015, the Company repurchased 1,045,000 shares for $39.9 million at an average price of $38.18 per share.  During the six months ended January 31, 2015, the Company repurchased 4,387,000 shares for $174.2 million at an average price of $39.72 per share.  As of January 31, 2015, the Company had remaining authorization to repurchase up to 4.2 million shares.

On January 31, 2015, the Company’s Board of Directors declared a cash dividend in the amount of 16.5cents per common share, payable to stockholders of record on February 17, 2015. The dividend was paid on March 5, 2015.