XML 36 R24.htm IDEA: XBRL DOCUMENT v3.22.1
Stockholders' Equity
 9 Months Ended
Apr. 30, 2022
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders’ Equity
(a)Cash Dividends on Shares of Common Stock
We declared and paid cash dividends of $0.38 and $0.37 per common share, or $1.6 billion, on our outstanding common stock for each of the third quarters of fiscal 2022 and 2021. We declared and paid cash dividends of $1.12 and $1.09 per common share, or $4.7 billion and $4.6 billion, on our outstanding common stock for the first nine months of fiscal 2022 and 2021, respectively.
Any future dividends will be subject to the approval of our Board of Directors.
(b)Stock Repurchase Program
In September 2001, our Board of Directors authorized a stock repurchase program. As of April 30, 2022, the remaining authorized amount for stock repurchases under this program was approximately $17.6 billion with no termination date. A summary of the stock repurchase activity for fiscal 2022 and 2021 under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):
Quarter EndedSharesWeighted-Average Price per ShareAmount
Fiscal 2022
April 30, 20225 $54.20 $252 
January 29, 202282 $58.36 $4,824 
October 30, 20215 $56.49 $256 
Fiscal 2021
July 31, 202115 $53.30 $791 
May 1, 202110 $48.71 $510 
January 23, 202119 $42.82 $801 
October 24, 202020 $40.44 $800 
There were stock repurchases of $10 million and $25 million that were pending settlement as of April 30, 2022 and July 31, 2021, respectively.
The purchase price for the shares of our stock repurchased is reflected as a reduction to stockholders’ equity. We are required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings or an increase to accumulated deficit and (ii) a reduction of common stock and additional paid-in capital.
(c) Preferred Stock
Under the terms of our Amended and Restated Certificate of Incorporation, the Board of Directors is authorized to issue preferred stock of one or more series and, in connection with the creation of such series, to fix by resolution the designation, powers (including voting powers (if any)), preferences and relative, participating, optional or other special rights of such series, and any qualification, limitations or restrictions thereof, of the shares of such series. As of April 30, 2022, we had not issued any shares of preferred stock.