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Shareholders' Equity | 3 Months Ended
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Nov. 30, 2024
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity Common Stock Repurchases and Treasury Stock In June 2021, the Board terminated the existing share repurchase plan and authorized a new share repurchase plan (the “Share Repurchase Plan”) to purchase up to 5,000 shares of Class A Common Stock. There is no expiration date for the Share Repurchase Plan. As of November 30, 2024, the maximum number of shares of Class A Common Stock that were available for repurchase under the Share Repurchase Plan was 1,682 shares. The Share Repurchase Plan allows the Company to repurchase shares at any time and in any increments it deems appropriate in accordance with Rule 10b-18 under the Exchange Act. During the thirteen-week period ended November 30, 2024, the Company repurchased 219 shares of Class A Common Stock for $18,072. From this total, 70 shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its stock-based compensation program and are reflected at cost as treasury stock in the unaudited Condensed Consolidated Financial Statements for the thirteen-week period ended November 30, 2024 and the remainder were immediately retired. During the thirteen-week period ended December 2, 2023, the Company repurchased 1,367 shares of Class A Common Stock for $132,045. From this totals, 87 shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its stock-based compensation program and are reflected at cost as treasury stock in the unaudited Condensed Consolidated Financial Statements for the thirteen-week period ended December 2, 2023 and the remainder were immediately retired. As of November 30, 2024, August 31, 2024 and December 2, 2023, the Company also recorded an accrual for excise tax on share repurchases of $8, $1,523 and $0, respectively, which was included in Accrued expenses and other current liabilities in the unaudited Condensed Consolidated Balance Sheets. The Company reissued 14 shares of treasury stock during the thirteen-week period ended November 30, 2024, and reissued 13 shares of treasury stock during the thirteen-week period ended December 2, 2023 to fund the MSC Industrial Direct Co., Inc. Amended and Restated Associate Stock Purchase Plan. Dividends on Common Stock The Company paid aggregate regular cash dividends of $0.85 per share totaling $47,537 for the thirteen-week period ended November 30, 2024. For the thirteen-week period ended December 2, 2023, the Company paid aggregate regular cash dividends of $0.83 per share totaling $47,192. On December 18, 2024, the Board declared a regular cash dividend of $0.85 per share, payable on January 29, 2025, to shareholders of record at the close of business on January 15, 2025. The dividend is expected to result in aggregate payments of $47,480, based on the number of shares outstanding at December 18, 2024. Reclassification In the first quarter of fiscal year 2024, the Company completed its previously announced reclassification (the “Reclassification”) of the common stock to eliminate the Class B Common Stock, par value $0.001 per share (“Class B Common Stock”). At the closing of the Reclassification, each share of Class B Common Stock issued and outstanding immediately prior to the Effective Time was reclassified, exchanged and converted into 1.225 shares of Class A Common Stock.

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