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SUBSEQUENT EVENTS | 3 Months Ended
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Nov. 30, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Dividend Declared On Wednesday, January 4, 2023, our Board of Directors declared a quarterly cash dividend of $0.06 per share to our shareholders. The dividend in the amount of approximately $1.2 million will be distributed on Monday, February 6, 2023, for shareholders of record as of Monday, January 30, 2023. Authorization of Share Repurchase Program On December 29, 2022, our Board of Directors authorized and approved a share repurchase program for up to $50 million of the outstanding shares of our common stock. The authorization permits the Company to repurchase shares of our common stock from time-to-time through a combination of open market repurchases, privately negotiated transactions, 10b5-1 trading plans, accelerated stock repurchase transactions and/or other transactions, in accordance with federal securities laws. No time limit was set for the completion of the share repurchase program, and the stock repurchase program may be modified, extended, suspended or discontinued at any time, in the sole discretion of the Company. The exact means, number and timing of share repurchases will depend on market conditions, applicable legal requirements and other factors, and will be funded through available cash balances. We are not obligated to repurchase any shares under the repurchase program. Our Board of Directors also authorized the Company to enter into an accelerated share repurchase transaction (“ASR”) for the repurchase of up to $20 million of our outstanding common shares as part of the new share repurchase program.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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