Dividends And Stock Repurchase Program

12 Months Ended

Jun. 30, 2011

Dividends and Stock Repurchase Program [Abstract]

DIVIDENDS AND STOCK REPURCHASE PROGRAM

NOTE 6: DIVIDENDS AND STOCK REPURCHASE PROGRAM

During fiscal years 2011 and 2010, DeVry's Board of Directors declared the following cash dividends:

				Total Dividend Amount
Declaration Date	Record Date	Payment Date	Dividend Per Share
				(In Thousands)
November 11, 2009	December 11, 2009	January 7, 2010	$ 0.10	$ 7,133
May 18, 2010	June 15, 2010	July 8, 2010	$ 0.10	$ 7,117
November 11, 2010	December 10, 2010	January 7, 2011	$ 0.12	$ 8,412
May 20, 2011	June 20, 2011	July 12, 2011	$ 0.12	$ 8,289

The dividend paid on July 11, 2011 of $8.3 million was recorded as a reduction to retained earnings as of June 30, 2011. Future dividends will be at the discretion of the Board of Directors.

DeVry has repurchased shares under the following programs as of June 30, 2011:

Date	Shares	Total Cost
Authorized	Repurchased	(millions)
November 15, 2006	908,399	$ 35.0
May 13, 2008	1,027,417	50.0
November 11, 2009	972,205	50.0
August 11, 2010	1,103,628	50.0
November 10, 2010	968,105	50.0
May 20, 2011	144,000	8.3
Totals	5,123,754	$ 243.3

On May 20, 2011, the DeVry Board of Directors authorized a sixth share repurchase program, which will allow DeVry to repurchase up to $100 million of its common stock through June 30, 2013. The timing and amount of any repurchase will be determined by management based on its evaluation of market conditions and other factors. These repurchases may be made through the open market, including block purchases, or in privately negotiated transactions, or otherwise. The buyback will be funded through available cash balances and/or borrowings, and may be suspended or discontinued at any time.

Shares of stock repurchased under the programs are held as treasury shares. These repurchased shares have reduced the weighted average number of shares of common stock outstanding for basic and diluted earnings per share calculations.