7. SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

May 31, 2020

Equity [Abstract]

Schedule of dividends declared and paid

The details of the dividends paid are in the following tables:

FY2020
Record Date	Distribution Date	Number of Shares Outstanding on Record Date		Dividend per Share		Total Amount
10/25/2019	11/01/2019		17,606,314	$	0.06	$	1,056,379
1/27/2020	2/03/2020		17,645,639	$	0.06		1,058,740
4/24/2020	5/01/2020		17,769,134	$	0.06		1,066,148
Total						$	3,181,267

FY2019
Record Date	Distribution Date	Number of Shares Outstanding on Record Date		Dividend per Share		Total Amount
11/1/2018	11/08/2018		17,417,875	$	0.06	$	1,045,073
1/25/2019	2/1/2019		17,481,450	$	0.06		1,048,887
4/09/2019	5/01/2019		17,515,228	$	0.06		1,050,914
7/25/2019	8/1/2019		17,536,454	$	0.06		1,052,181
Total						$	4,197,055

Schedule of stock option activity

The following table summarizes information about stock options:

Transactions in FY20	Number of Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life
Outstanding, August 31, 2019		1,163,259		$	12.63		7.13
Granted		180,000		$	33.83
Exercised		(78,807	)	$	8.46
Cancelled/Forfeited		(32,961	)	$	14.26
Expired		–		$	–
Outstanding, May 31, 2020		1,231,491		$	15.95		6.90
Exercisable, May 31, 2020		625,966		$	10.05		5.78

Schedule of assumptions

The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the current fiscal year 2020 and fiscal year 2019:

	YTD FY 2020		FY 2019
Estimated fair value of awards granted	$	1,996,200	$	1,928,820
Unvested Forfeiture Rate		0%		6.20%
Weighted average grant price	$	33.83	$	22.78
Weighted average market price	$	33.83	$	22.69
Weighted average volatility		32.27%		31.61%
Weighted average risk-free rate		1.62%		2.59%
Weighted average dividend yield		0.71%		1.10%
Weighted average expected life		6.68 years		6.64 years

Schedule of options by exercise price range

The exercise prices for the options outstanding at May 31, 2020 ranged from $6.75 to $38.81, and the information relating to these options is as follows:

Exercise Price				Awards Outstanding						Awards Exercisable
Low		High		Quantity		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Quantity		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$	6.75	$	8.00		180,970		4.27 years	$	6.85		180,970		4.27 years	$	6.85
$	8.01	$	16.00		588,401		6.29 years	$	9.97		387,846		6.21 years	$	9.93
$	16.01	$	24.00		236,870		8.03 years	$	20.69		57,150		7.60 years	$	21.06
$	24.01	$	38.81		225,250		9.43 years	$	33.92		0		–	$	–
					1,231,491		6.90 years	$	15.95		625,966		5.78 years	$	10.05