Stock Repurchase Program and Cash Dividend

9 Months Ended

Jul. 31, 2020

Stock Repurchase Program and Cash Dividends

Stock Repurchase Program

On March 10, 2020 our Board of Directors terminated our existing 20 million share repurchase program, which was authorized in December 2019, 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, in each case 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:


	Nine months ended July 31,						Three months ended July 31,
	2020		2019		2020		2019
Number of shares purchased (in thousands)	15,948		4,767		10		3,979
Average price per share	$	39.75	$	35.13	$	32.81	$	35.74
Remaining authorization at July 31 (in thousands)	19,988		15,805		19,988		15,805

Cash Dividends

During the nine months ended July 31, 2020 and 2019, we declared and paid cash dividends of $0.33 per share to our shareholders. During the three months ended July 31, 2020 and 2019, we declared and paid cash dividends of $0.11 per share to our shareholders.