Shareholders' Equity

9 Months Ended

Jun. 02, 2018

Shareholders' Equity [Abstract]

Shareholders' Equity

Note 8. Shareholders’ Equity

On June 19, 2018, the Board of Directors declared a quarterly cash dividend of $0.58 per share payable on July 24, 2018 to shareholders of record at the close of business on July 10, 2018. The dividend will result in a payout of approximately $32,797, based on the number of shares outstanding at June 20, 2018.

On January 9, 2018, the Board of Directors authorized the repurchase of an additional 2,000 shares of Class A common stock under the Company’s ongoing Stock Repurchase Plan.During the thirty-nine-week period ended June 2, 2018, the Company repurchased 291 shares of its Class A common stock for $25,384, which is reflected at cost as treasury stock in the accompanying condensed consolidated financial statements. Of these shares, 53 shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its share-based compensation program.  The total number of shares of Class A common stock authorized for future repurchase was approximately 2,565 shares at June 2, 2018.