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Share Repurchase Plan
9 Months Ended
May 31, 2019
Share Repurchase Plan [Abstract]  
Share Repurchase Plan

Note 8. Share Repurchase Plan

On June 19, 2018, the Company’s Board of Directors approved a share buy-back plan. Under the plan, which became effective on September 1, 2018, the Company is authorized to acquire up to $75.0 million of its outstanding shares through August 31, 2020. 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, 2018 through May 31, 2019, the Company repurchased 132,184 shares at an average price of $169.32 per share, for a total cost of $22.4 million under this $75.0 million plan.