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SHAREHOLDERS' EQUITY

6 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 10 SHAREHOLDERS’ EQUITY

The Company has authorization from the Board of Directors (the "Board") for the repurchase of up to four million common shares per calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. During the three and six months ended March 31, 2020, we purchased 1.5 million common shares at an aggregate cost of $28.5 million, which are held as treasury shares. We had no purchases of common shares during the six months ended March 31, 2019.

A cash dividend of $0.71 per share was declared on September 4, 2019 for shareholders of record on November 11, 2019 and was paid on December 2, 2019, and a cash dividend of $0.71 per share was declared on December 13, 2019 for shareholders of record on February 10, 2020 and was paid on March 2, 2020. An additional cash dividend of $0.71 per share was declared on March 4, 2020 for shareholders of record on May 11, 2020, payable on June 1, 2020. As a result, we recorded a dividend payable of $77.3 million within Accounts Payable on our Unaudited Condensed Consolidated Balance Sheets as of March 31, 2020.

Components of accumulated other comprehensive loss were as follows:

(in thousands)	March 31, 2020				September 30, 2019
Pre-tax amounts:
Unrealized actuarial loss	$	(35,746	)		$	(37,084	)
	$	(35,746	)		$	(37,084	)
After-tax amounts:
Unrealized actuarial loss	$	(27,603	)		$	(28,635	)
	$	(27,603	)		$	(28,635	)

The following is a summary of the changes in accumulated other comprehensive loss, net of tax, related to the defined benefit pension plan for the three and six months ended March 31, 2020:

(in thousands)	Three Months Ended March 31, 2020				Six Months Ended March 31, 2020
Balance at beginning of period	$	(28,119	)		$	(28,635	)
Activity during the period
Amounts reclassified from accumulated other comprehensive income	516				1,032
Net current-period other comprehensive income	516				1,032
Balance at March 31, 2020	$	(27,603	)		$	(27,603	)

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- References

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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