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Subsequent Events | 9 Months Ended
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May 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | Note 14. Subsequent Events ﻿ On June 11, 2018, the United States Supreme Court denied a petition for a writ of certiorari filed by IQ Products Company on January 10, 2018. IQ Products Company was seeking Supreme Court review of the September 13, 2017 decision of the Fifth Circuit Court of Appeals that affirmed a judgment entered in favor of the Company by the federal district court for the Southern District of Texas on August 25, 2016. The judgment obligates IQ Products Company to pay to the Company the sum of approximately $1.5 million, including post-judgment interest from August 25, 2016. Payment of the judgment is secured by a surety bond covering the full amount of the judgment. As of May 31, 2018, the Company had not recorded this $1.5 million judgment amount in its consolidated financial statements since this potential one-time benefit to earnings was not realizable as of this date. ﻿ On June 19, 201 8, the Company’s Board of Directors declared a cash dividend of $0.54 per share payable on July 31, 2018 to shareholders of record on July 20, 2018. ﻿ On June 19, 2018, the Company’s Board of Directors also approved a new share buy-back plan. Under the plan, which will be effective from September 1, 2018 through August 31, 2020, the Company is authorized to acquire up to $75.0 million of its outstanding shares 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 thereto. ﻿

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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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