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Subsequent Events | 3 Months Ended
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Nov. 30, 2017
Subsequent Events | ﻿ Note 1 4. Subsequent Events ﻿ On December 12, 2017, the Company’s Board of Directors approved a 10% increase in the regular quarterly cash dividend, increasing it from $0.49 per share to $0.54 per share. The $0.54 per share dividend declared on December 12, 2017 is payable on January 31, 2018 to shareholders of record on January 19, 2018. ﻿ On December 20, 2017 the United States House of Representatives and the Senate passed the “Tax Cuts and Jobs Act” (the “Act”), which was signed into law by President Trump on December 22, 2017. The Act is the most significant revision of the U.S. tax code since the Tax Reform Act of 1986 and is effective beginning January 1, 2018. The Company will be impacted in several ways as a result of the Act including, but not limited to, provisions which include a permanent reduction in the U.S. federal corporate income tax rate from 35% to 21%, the revaluation of deferred tax assets and liabilities that will be required as a result of the tax rate change, and the application of a mandatory one-time “toll tax” on unremitted foreign earnings. Although the Company has not yet performed a comprehensive analysis of the Act and cannot determine the full extent of its impact on the Company’s consolidated financial statements and related disclosures, the Company expects that the Act will have some favorable impact on its annual effective income tax rate in fiscal year 2018. This expected favorable impact is due to the Act’s lower corporate tax rate which will be effective for a portion of the Company’s fiscal year 2018, as well as expected net favorable impacts resulting from one-time events required by the Act in fiscal year 2018. The net favorable impacts of these one-time events are primarily driven by the anticipated favorable impacts as a result of the Company’s revaluation of deferred tax assets and liabilities, which is expected to be substantially offset by the unfavorable impacts of the toll tax.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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