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Shareholders' Equity | 6 Months Ended
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Feb. 27, 2021
Shareholders' Equity [Abstract] |
Shareholders' Equity | Note 8. Shareholders’ Equity Common Stock Repurchases and Treasury Stock During the thirteen- and twenty-six-week periods ended February 27, 2021, the Company repurchased four and 50 shares of its Class A Common Stock for $360 and $3,519, respectively. All of these shares were repurchased by the Company to satisfy the Company’s associates’ tax withholdings liability associated with its share-based compensation program and are reflected at cost as treasury stock in the unaudited Condensed Consolidated Financial Statements for the thirteen- and twenty-six-week periods ended February 27, 2021. During fiscal year 1999, the Company’s Board of Directors established the MSC Stock Repurchase Plan, which the Company refers to as the “Repurchase Plan.” On January 8, 2008 and on October 21, 2011, the Company’s Board of Directors reaffirmed and replenished the Repurchase Plan. As of February 27, 2021, the maximum number of shares authorized to be repurchased under the Repurchase Plan was 1,157 shares. The Company reissued 16 and 31 shares of treasury stock during the thirteen- and twenty-six-week periods ended February 27, 2021, respectively, and reissued 19 and 35 shares of treasury stock during the thirteen- and twenty-six-week periods ended February 29, 2020, respectively, to fund the MSC Industrial Direct Co., Inc. Amended and Restated Associate Stock Purchase Plan. Dividends on Common Stock The Company paid aggregate cash dividends of $5.00 per common share totaling $279,036 for the twenty-six weeks ended February 27, 2021, which consisted of a special cash dividend of approximately $195,351 at $3.50 per share and regular cash dividends of approximately $83,685 at $1.50 per share. For the twenty-six weeks ended February 29, 2020, the Company paid a special cash dividend of approximately $5.00 per common share totaling $277,634 and regular cash dividends of approximately $83,181 at $1.50 per share. On March 30, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.75 per share payable on April 27, 2021 to shareholders of record at the close of business on April 13, 2021. The dividend will result in a payout of approximately $41,963, based on the number of shares outstanding at March 15, 2021.

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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 + Details
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