Subsequent Events

12 Months Ended

Jan. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS:

On February 25, 2015, we entered into the third amendment (the Amendment) of our Company's revolving credit facility agreement dated as of July 27, 2011. The Amendment expands the commitment under the revolving credit facility from $70 million to $125 million and increases the maximum total debt leverage ratio to 3.50 to 1.00.

On February 26, 2015, we announced that our Board of Directors declared a quarterly dividend of $0.0775 per share on our common stock. The dividend will be payable on March 30, 2015 to shareholders of record at the close of business on March 16, 2015. Although it is our Company’s intention to continue to pay a quarterly cash dividend in the future, any decision to pay future cash dividends will be made by the Board of Directors and will depend on future earnings, financial condition and other factors.

On March 6, 2015, in a privately negotiated transaction, we entered into accelerated share repurchase agreements to buy $250 million of our common shares under our existing share repurchase authorization, using cash on hand and available borrowings. We advanced $250 million on March 9, 2015, and received approximately 10.7 million shares, which represented 75 percent of the total shares as calculated using the relevant closing price. The remaining shares and average price per share will be determined at the conclusion of the contract, which is expected to occur no later than October 2015.