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Capital Stock
 12 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
Capital Stock
Capital Stock

The Company has two classes of common stock outstanding: common and Class B. Each class receives equal dividends per share. Class B stock, which has 10 votes per share, is not transferable as Class B stock except to family members of the holder or certain other related entities. At any time, Class B stock is convertible, share for share, into common stock with one vote per share. Class B stock transferred to persons or entities not entitled to receive it as Class B stock will automatically be converted and issued as common stock to the transferee. The principal market for trading the Company's common stock is the New York Stock Exchange (trading symbol MDP). No separate public trading market exists for the Company's Class B stock.

From time to time, the Company's Board of Directors has authorized the repurchase of shares of the Company's common stock on the open market. In October 2011, the Board approved the repurchase of $100.0 million of shares. In May 2014, the Board approved the repurchase of an additional $100.0 million of shares. As of June 30, 2014, $108.2 million remained available under the current authorizations for future repurchases.

Repurchases of the Company's common and Class B stock are as follows:

Years ended June 30,
2014

 
2013

 
2012

(In thousands)
 
 
 
 
 
Number of shares
1,640

 
1,477


976

Cost at market value
$
78,226

 
$
54,734

 
$
26,881



Effective July 1, 2013, shares deemed to be delivered to the Company on tender of stock in payment for the exercise price of options are no longer included as part of our repurchase program and thus they do not reduce the repurchase authority granted by our Board. Shares delivered or deemed to be delivered to us in satisfaction of tax withholding on option exercises and the vesting of restricted shares continue to reduce the repurchase authority granted by our Board. During fiscal 2014, 1.1 million shares at a cost of $54.1 million were tendered for the exercise price of options.