Dividends and Share Repurchases

9 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Dividends and Share Repurchases

Dividends and Share Repurchases

On June 7, 2024, the Company paid a regular dividend on common stock of $0.26 per share, which represented the 165th consecutive quarterly cash dividend. Dividends per share were $0.26 and $0.25 for the quarters ended June 30, 2024 and 2023, respectively.

For the three months ended June 30, 2024, the Company repurchased 357,303 shares of common stock at an average price of $26.63. During the third quarter, the Company's Board of Directors increased the number of shares authorized for repurchase under its share repurchase program by 10,000,000 shares. As of June 30, 2024, there were 11,501,005 remaining shares authorized to be repurchased under the current Board approved share repurchase program.

The Company pays a cash dividend, if declared by the Board, of $12.1875 per share on its Series A Preferred Stock quarterly on January 15, April 15, July 15 and October 15. This dividend equals $0.30468750 per depositary share (each dividend, a "Series A Preferred Dividend"). The Company paid a Series A Preferred Dividend on April 15, 2024 and July 15, 2024.