Shareholders' Equity

6 Months Ended

Jan. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The Company’s Board of Directors authorized the repurchase of up to 14.0 million shares of common stock on May 29, 2015. During the three months ended January 31, 2016, there were no share repurchases. During the six months ended January 31, 2016, the Company repurchased 2,070,000 shares for $68.0 million at an average price of $32.85 per share. As of January 31, 2016, the Company had remaining authorization to repurchase up to 10.9 million shares.

On January 28, 2016, the Company's Board of Directors declared a cash dividend in the amount of 17.0 cents per common share, payable to stockholders of record on February 16, 2016. The dividend was paid on March 2, 2016.