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Subsequent Events
3 Months Ended
Nov. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Dividend Declaration
On December 11, 2024, the Company’s Board approved a 7% increase in the regular quarterly cash dividend, increasing it from $0.88 per share to $0.94 per share. The $0.94 per share dividend declared on December 11, 2024 is payable on January 31, 2025 to stockholders of record at the close of business on January 17, 2025.
Release of Uncertain Tax Position
Due to the expiration of federal statutes on December 17, 2024, the Company released an unrecognized tax benefit associated with the Tax Cuts and Jobs Act of 2017 mandatory onetime “toll tax” on unremitted foreign earnings. The release of this unrecognized tax benefit is expected to generate a favorable income tax adjustment of $11.9 million, net of federal benefit, in the fiscal second quarter ending February 28, 2025.