Stockholders' Equity

9 Months Ended

Jun. 30, 2018

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

The Company has an automatically effective universal shelf registration statement, filed with the SEC in August 2015, registering debt and equity securities that it may issue from time to time in amounts to be determined.

Effective August 1, 2017, the Board of Directors authorized the repurchase of up to $200 million of the Company’s common stock effective through July 31, 2018. During the nine months ended June 30, 2018, the Company repurchased 1,608,537 shares of its common stock for $74.9 million, resulting in a remaining authorization of $125.1 million at June 30, 2018. In July 2018, the Board of Directors authorized the repurchase of up to $400 million of the Company’s common stock effective through September 30, 2019, which replaced the previous authorization.

During the three months ended June 30, 2018, the Board of Directors approved a quarterly cash dividend of $0.125 per common share, which was paid on May 25, 2018 to stockholders of record on May 11, 2018. In July 2018, the Board of Directors approved a quarterly cash dividend of $0.125 per common share, payable on August 22, 2018 to stockholders of record on August 8, 2018. Cash dividends of $0.10 per common share were approved and paid in each quarter of fiscal 2017.