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Share Repurchase Plan
6 Months Ended
Feb. 29, 2020
Share Repurchase Plan [Abstract]  
Share Repurchase Plan Note 9. Share Repurchase Plan

On June 19, 2018, the Company’s Board of Directors approved a share buy-back plan. Under the plan, which became effective on September 1, 2018 and will remain in effect through August 31, 2020, the Company is authorized to acquire up to $75.0 million of its outstanding shares. The timing and amount of repurchases are based on terms and conditions as may be acceptable to the Company’s Chief Executive Officer and Chief Financial Officer and in compliance with all laws and regulations applicable thereto. During the period from September 1, 2018 through February 29, 2020, the Company repurchased 227,529 shares at a total cost of $39.3 million under this $75.0 million plan. During the six months ended February 29, 2020, the Company repurchased 51,574 shares at an average price of $187.24 per share, for a total cost of $9.7 million under this $75.0 million plan.