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Shareholders' Equity
6 Months Ended
Feb. 26, 2022
Shareholders' Equity [Abstract]  
Shareholders' Equity Note 7. Shareholders’ Equity Common Stock Repurchases and Treasury Stock On June 29, 2021, the Company’s Board of Directors terminated the MSC Stock Repurchase Plan, which was established during fiscal year 1999, and authorized a new share repurchase program (the “Share Repurchase Program”) to purchase up to 5,000 shares of Class A Common Stock. There is no expiration date for the Share Repurchase Program. As of February 26, 2022, the maximum number of shares that may yet be repurchased under the Share Repurchase Program was 5,000 shares of Class A Common Stock. The Share Repurchase Program allows the Company to repurchase shares at any time and in any increments it deems appropriate in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. During the thirteen- and twenty-six-week periods ended February 26, 2022, the Company repurchased 4 shares and 57 shares, respectively, of Class A Common Stock for $254 and $4,813, respectively. During the thirteen- and twenty-six-week periods ended February 27, 2021, the Company repurchased 4 shares and 50 shares, respectively, of Class A Common Stock for $360 and $3,519, respectively. All of these shares were repurchased by the Company to satisfy the Company’s associates’ tax withholding liability associated with its stock-based compensation program and are reflected at cost as treasury stock in the unaudited Condensed Consolidated Financial Statements for the thirteen- and twenty-six-week periods ended February 26, 2022 and February 27, 2021, respectively. The Company reissued 16 shares and 30 shares of treasury stock during the thirteen- and twenty-six-week periods ended February 26, 2022 respectively, and reissued 16 shares and 31 shares of treasury stock during the thirteen- and twenty-six-week periods ended February 27, 2021, respectively, to fund the MSC Industrial Direct Co., Inc. Amended and Restated Associate Stock Purchase Plan. Dividends on Common Stock The Company paid aggregate regular cash dividends of $1.50 per common share totaling approximately $83,586 for the twenty-six weeks ended February 26, 2022. For the twenty-six weeks ended February 27, 2021, the Company paid a special cash dividend of $3.50 per common share totaling approximately $195,351 and regular cash dividends of $1.50 per common share totaling approximately $83,685.  On March 22, 2022, the Company’s Board of Directors declared a quarterly cash dividend of $0.75 per share, payable on April 26, 2022, to shareholders of record at the close of business on April 12, 2022. The dividend is expected to result in aggregate payments of approximately $41,881, based on the number of shares outstanding at March 15, 2022.