XML 27 R16.htm IDEA: XBRL DOCUMENT v3.23.2
SHAREHOLDERS' EQUITY
 9 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 7 SHAREHOLDERS’ EQUITY
The Company has an evergreen authorization from the Board of Directors for the repurchase of up to four million common shares in any calendar year. In December 2022, the Board of Directors increased the maximum number of shares authorized to be repurchased in calendar year 2023 to five million common shares. On June 7, 2023, the Board of Directors further increased the maximum number of shares authorized to be repurchased in calendar year 2023 to seven million shares. The repurchases are made using our cash and cash equivalents or other available sources and are held as treasury shares on our Unaudited Condensed Consolidated Balance Sheets. During the three and nine months ended June 30, 2023, we repurchased 3.2 million and 6.5 million common shares, at an aggregate cost of $103.2 million and $249.0 million, including excise tax of $1.0 million and $1.8 million, respectively. We repurchased 3.2 million common shares at an aggregate cost of $77.0 million during the nine months ended June 30, 2022. We did not repurchase any common shares during the three months ended June 30, 2022.
A base cash dividend of $0.25 per share and a supplemental dividend of $0.235 per share was declared on March 1, 2023 for shareholders of record on May 18, 2023, and was paid on June 1, 2023. On June 7, 2023, the Board of Directors declared a base cash dividend of $0.25 per share and a supplemental cash dividend of $0.235 per share for shareholders of record on August 17, 2023, payable on August 31, 2023. As a result, we recorded Dividends payable of $48.9 million on our Unaudited Condensed Consolidated Balance Sheets as of June 30, 2023.
Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss were as follows:
June 30,September 30,
(in thousands)20232022
Pre-tax amounts:
Unrealized actuarial loss$(14,710)$(15,703)
(14,710)(15,703)
After-tax amounts:
Unrealized actuarial loss$(11,305)$(12,072)
$(11,305)$(12,072)

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 nine months ended June 30, 2023:
(in thousands)Three Months Ended June 30, 2023Nine Months Ended June 30, 2023
Balance at beginning of period$(11,560)$(12,072)
Activity during the period:
Amounts reclassified from accumulated other comprehensive loss255 767 
Net current-period other comprehensive income255 767 
Balance at June 30, 2023$(11,305)$(11,305)