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Note 8 - Stockholders' Equity
 9 Months Ended
May 31, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
8.
       STOCKHOLDERS’ EQUITY
 
On
June 3, 2019,
the Company’s Board of Directors declared a
two
-for-
one
stock split of the Company’s common stock effected in the form of a
100%
share dividend distributed on
June 28, 2019
to record holders as of
June 17, 2019.
All share and per share values have been adjusted to retroactively reflect the effect of the
two
-for-
one
stock split.
 
During the
nine
months ended
May 31, 2020,
the Company’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of the Company’s common stock as of the following record dates:
 
Declaration Date   Amount   Record Date   Payable Date
October 22, 2019  
$0.065
    
November 6, 2019
  
November 20, 2019
January 22, 2020  
$0.065
    
February 5, 2020
  
February 19, 2020
 
On
April 23, 2020,
the Company announced the temporary suspension of its quarterly cash dividend pending clarity on the novel strain of COVID-
19
crisis. Therefore, the Company did
not
declare a cash dividend during the quarter ended
May 31, 2020.
 
During the
nine
months ended
May 31, 2019,
the Company’s Board of Directors declared cash dividends on the following dates in the following amounts to holders of record of the Company’s common stock as of the following record dates:
 
Declaration Date   Amount   Record Date   Payable Date
October 24, 2018  
$0.06
    
November 7, 2018
  
November 21, 2018
January 23, 2019  
$0.06
    
February 6, 2019
  
February 22, 2019
April 25, 2019  
$0.06
    
May 9, 2019
  
May 23, 2019
 
During the
nine
months ended
May 31, 2020
and
2019,
the Company repurchased
no
shares of its common stock.
 
During the
nine
months ended
May 31, 2020,
the Company granted stock options under the Northern Technologies International Corporation
2019
Stock Incentive Plan (the
2019
Plan) to purchase an aggregate of
300,770
shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is
$10.87,
which was equal to the fair market value of the Company’s common stock on the date of grant. During the
nine
months ended
May 31, 2020,
6,823
stock options to purchase common stock were exercised.
 
During the
nine
months ended
May 31, 2019,
the Company granted stock options under the
2019
Plan to purchase an aggregate of
141,768
shares of its common stock to various employees and directors. The weighted average per share exercise price of the stock options is
$18.23,
which was equal to the fair market value of the Company’s common stock on the date of grant. During the
nine
months ended
May 31, 2019,
no
stock options to purchase common stock were exercised.
 
The Company issued
3,597
and
1,748
shares of common stock on
September 1, 2019
and
2018,
respectively, under the Northern Technologies International Corporation Employee Stock Purchase Plan (the ESPP). The Company issued
2,754
and
2,462
shares of common stock on
March 1, 2020
and
2019,
respectively, under the ESPP.