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Share Repurchase Plans
3 Months Ended
Nov. 30, 2017
Share Repurchase Plans

Note 8. Share Repurchase Plans



On June 21, 2016, the Company’s Board of Directors approved a share buy-back plan. Under the plan, which became effective on September 1, 2016, the Company is authorized to acquire up to $75.0 million of its outstanding shares through August 31, 2018. The timing and amount of repurchases are based on terms and conditions as may be acceptable to the Company’s Chief Executive Officer and Chief Financial Officer and in compliance with all laws and regulations applicable thereto. During the period from September 1, 2016 through November 30, 2017, the Company repurchased 325,823 shares at a total cost of $35.0 million under this $75.0 million plan. During the three months ended November 30, 2017, the Company repurchased 35,250 shares at an average price of $110.42 per share, for a total cost of $3.9 million.