Shareholders' Equity

3 Months Ended

Oct. 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 October 31, 2016, the Company repurchased 1.1 million shares for $41.4 million at an average price of $36.59 per share. As of October 31, 2016, the Company had remaining authorization to repurchase up to 9.4 million shares.

On November 18, 2016, the Company's Board of Directors declared a cash dividend in the amount of 17.5 cents per common share, payable to stockholders of record on December 6, 2016. The dividend is payable on December 21, 2016.