Stock Repurchase Program and Cash Dividend

3 Months Ended

Jan. 31, 2020

Stock Repurchase Program and Cash Dividends

Stock Repurchase Program

On December 11, 2019, our Board of Directors terminated our existing 20 million share repurchase program, which was authorized in December 2018, and authorized, under a new repurchase program, the repurchase of 20 million shares of our common stock in open market transactions, privately negotiated transactions (including accelerated share repurchases), issuer tender offers or other financial arrangements or transactions for general corporate purposes, including to obtain shares for the Company’s equity award and other employee benefit plans. Our Board of Directors did not fix any expiration date for this repurchase program.

The table below provides, for the periods indicated, information about our share repurchase programs:



	Three months ended January 31,
	2020		2019
Number of shares purchased (in thousands)	11,686		785
Average price per share	$	40.73	$	32.02
Remaining authorization at January 31 (in thousands)	8,314		19,787

Subsequent to January 31, 2020, we repurchased approximately 3.8 million shares of our common stock at an average price of $37.52 per share.

Cash Dividends

During each of the three months ended January 31, 2020 and 2019, we declared and paid cash dividends of $0.11 per share to our shareholders.