Stockholders' Equity

6 Months Ended

Feb. 28, 2021

STOCKHOLDERS’ EQUITY

Shares of common stock outstanding were as follows:


	Six Months Ended
	February 28,	February 29,
(in thousands)	2021	2020
Balance, beginning of year at September 1, 2020 and 2019, respectively	38,030	38,118
Common stock issued for employee stock plans	176	348
Repurchase of common stock from employees(1)	(7)	(6)
Repurchase of common stock under the share repurchase program	(354)	(611)
Balance at February 28, 2021 and February 29, 2020, respectively	37,845	37,849

(1)For the six months ended February 28, 2021 and February 29, 2020, the Company repurchased 7,447 and 6,252 shares, or $2.4 million and $1.6 million of common stock, respectively, primarily to satisfy withholding tax obligations due upon the vesting of stock-based awards.

Share Repurchase Program

Repurchases of shares of common stock may be made from time to time in the open market and privately negotiated transactions, subject to market conditions. For the three months ended February 28, 2021 and February 29, 2020, the Company repurchased 221,959 shares for $71.5 million and 267,500 shares for $74.2 million, respectively. For the six months ended February 28, 2021 and February 29, 2020, the Company repurchased 353,759 shares for $114.6 million and 610,500 shares for $158.6 million, respectively.

As of February 28, 2021, $144.4 million remained authorized for future share repurchases. There is no defined number of shares to be repurchased over a specified timeframe through the life of the share repurchase program. It is expected that share repurchases will be paid using existing and future cash generated by operations.

On March 23, 2021, the Board of Directors of FactSet approved a $205.6 million increase to the existing share repurchase program. Subsequent to this approval, a total of $350.0 million is available for future share repurchases.

Restricted Stock

Restricted stock awards entitle the holders to receive shares of common stock as the awards vest over time. For the six months ended February 28, 2021, 18,943 shares of previously granted restricted stock vested and were included in common stock outstanding as of February 28, 2021 (recorded net of 7,129 shares repurchased from employees at a cost of $2.3 million to cover their cost of taxes upon vesting of the restricted stock). During the six months ended February 29, 2020, 16,476 shares of previously granted restricted stock vested and were included in common stock outstanding as of February 29, 2020 (recorded net of 6,209 shares repurchased from employees at a cost of $1.6 million to cover their cost of taxes upon vesting of the restricted stock).

Dividends

The Company’s Board of Directors declared the following dividends in the six months of fiscal 2021 and 2020 respectively:


Year Ended	Dividends per Share of Common Stock		Record Date	Total $ Amount (in thousands)		Payment Date
Fiscal 2021
First Quarter	$	0.77	November 30, 2020	$	29,266	December 17, 2020
Second Quarter	$	0.77	February 26, 2021	$	29,141	March 18, 2021


Fiscal 2020
First Quarter	$	0.72	November 29, 2019	$	27,291	December 19, 2019
Second Quarter	$	0.72	February 28, 2020	$	27,251	March 19, 2020

Future cash dividend payments will depend on the Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company and are subject to final determination by the Company’s Board of Directors.

Accumulated Other Comprehensive Loss

The components of AOCL are as follows:


(in thousands)	February 28, 2021		August 31, 2020
Accumulated unrealized losses on cash flow hedges	$	(404)	$	(1,591)
Accumulated foreign currency translation adjustments	(28,092)		(37,702)
Total AOCL	$	(28,496)	$	(39,293)