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7. SHAREHOLDERS' EQUITY (Tables) | 9 Months Ended
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May 31, 2020
Equity [Abstract] |
Schedule of dividends declared and paid | The details of the dividends paid are in the following tables:
FY2020
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  |  | Dividend per Share |  |  | Total Amount |
10/25/2019 |  | 11/01/2019 |  |  | 17,606,314 |  |  | $ | 0.06 |  |  | $ | 1,056,379 |
1/27/2020 |  | 2/03/2020 |  |  | 17,645,639 |  |  | $ | 0.06 |  |  |  | 1,058,740 |
4/24/2020 |  | 5/01/2020 |  |  | 17,769,134 |  |  | $ | 0.06 |  |  |  | 1,066,148 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 3,181,267 |
FY2019
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  |  | Dividend per Share |  |  | Total Amount |
11/1/2018 |  | 11/08/2018 |  |  | 17,417,875 |  |  | $ | 0.06 |  |  | $ | 1,045,073 |
1/25/2019 |  | 2/1/2019 |  |  | 17,481,450 |  |  | $ | 0.06 |  |  |  | 1,048,887 |
4/09/2019 |  | 5/01/2019 |  |  | 17,515,228 |  |  | $ | 0.06 |  |  |  | 1,050,914 |
7/25/2019 |  | 8/1/2019 |  |  | 17,536,454 |  |  | $ | 0.06 |  |  |  | 1,052,181 |
Total |  |  |  |  |  |  |  |  |  |  |  | $ | 4,197,055 |
Schedule of stock option activity | The following table summarizes information about stock options:
Transactions in FY20 |  | Number of Options |  |  | Weighted- Average Exercise Price Per Share |  |  | Weighted- Average Remaining Contractual Life |
Outstanding, August 31, 2019 |  |  | 1,163,259 |  |  | $ | 12.63 |  |  |  | 7.13 |
Granted |  |  | 180,000 |  |  | $ | 33.83 |  |  |  |  |
Exercised |  |  | (78,807 | ) |  | $ | 8.46 |  |  |  |  |
Cancelled/Forfeited |  |  | (32,961 | ) |  | $ | 14.26 |  |  |  |  |
Expired |  |  | – |  |  | $ | – |  |  |  |  |
Outstanding, May 31, 2020 |  |  | 1,231,491 |  |  | $ | 15.95 |  |  |  | 6.90 |
Exercisable, May 31, 2020 |  |  | 625,966 |  |  | $ | 10.05 |  |  |  | 5.78 |
Schedule of assumptions | The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the current fiscal year 2020 and fiscal year 2019:
|  | YTD FY 2020 |  |  | FY 2019 |
Estimated fair value of awards granted |  | $ | 1,996,200 |  |  | $ | 1,928,820 |
Unvested Forfeiture Rate |  |  | 0% |  |  |  | 6.20% |
Weighted average grant price |  | $ | 33.83 |  |  | $ | 22.78 |
Weighted average market price |  | $ | 33.83 |  |  | $ | 22.69 |
Weighted average volatility |  |  | 32.27% |  |  |  | 31.61% |
Weighted average risk-free rate |  |  | 1.62% |  |  |  | 2.59% |
Weighted average dividend yield |  |  | 0.71% |  |  |  | 1.10% |
Weighted average expected life |  |  | 6.68 years |  |  |  | 6.64 years |
Schedule of options by exercise price range | The exercise prices for the options outstanding at May 31, 2020 ranged from $6.75 to $38.81, and the information relating to these options is as follows:
Exercise Price |  |  | Awards Outstanding |  |  | Awards Exercisable |
Low |  |  | High |  |  | Quantity |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |  |  | Quantity |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |
$ | 6.75 |  |  | $ | 8.00 |  |  |  | 180,970 |  |  |  | 4.27 years |  |  | $ | 6.85 |  |  |  | 180,970 |  |  |  | 4.27 years |  |  | $ | 6.85 |
$ | 8.01 |  |  | $ | 16.00 |  |  |  | 588,401 |  |  |  | 6.29 years |  |  | $ | 9.97 |  |  |  | 387,846 |  |  |  | 6.21 years |  |  | $ | 9.93 |
$ | 16.01 |  |  | $ | 24.00 |  |  |  | 236,870 |  |  |  | 8.03 years |  |  | $ | 20.69 |  |  |  | 57,150 |  |  |  | 7.60 years |  |  | $ | 21.06 |
$ | 24.01 |  |  | $ | 38.81 |  |  |  | 225,250 |  |  |  | 9.43 years |  |  | $ | 33.92 |  |  |  | 0 |  |  |  | – |  |  | $ | – |
|  |  |  |  |  |  |  |  | 1,231,491 |  |  |  | 6.90 years |  |  | $ | 15.95 |  |  |  | 625,966 |  |  |  | 5.78 years |  |  | $ | 10.05 |

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