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SHAREHOLDERS' EQUITY
 12 Months Ended
Sep. 30, 2020
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 10 SHAREHOLDERS’ EQUITY
The Company has an evergreen authorization from the Board for the repurchase of up to four million common shares in any calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. During the fiscal year ended September 30, 2020, we purchased 1.5 million common shares at an aggregate cost of $28.5 million, which are held as treasury shares. We purchased 1.0 million common shares at an aggregate cost of $42.8 million, which are held as treasury shares, during the fiscal year ended September 30, 2019. We had no purchases of common shares during the fiscal year ended September 30, 2018.
As of September 30, 2020, we declared $209.8 million in cash dividends. A cash dividend of $0.25 per share was declared on September 9, 2020 for shareholders of record on November 13, 2020, payable on December 1, 2020. As a result, we recorded a Dividend Payable of $27.2 million on our Consolidated Balance Sheets as of September 30, 2020.
Accumulated Other Comprehensive Income (Loss)
Components of accumulated other comprehensive income (loss) were as follows:
 
September 30,
(in thousands)
2020
 
2019
 
2018
Pre-tax amounts:
 
 
 
 
 
Unrealized appreciation on securities (1)
$
—

 
$
—

 
$
44,023

Unrealized actuarial loss
(33,923
)
 
(37,084
)
 
(21,693
)
 
$
(33,923
)
 
$
(37,084
)
 
$
22,330

After-tax amounts:
 
 
 
 
 
Unrealized appreciation on securities (1)
$
—

 
$
—

 
$
29,071

Unrealized actuarial loss
(26,188
)
 
(28,635
)
 
(12,521
)
 
$
(26,188
)
 
$
(28,635
)
 
$
16,550


(1)
We adopted ASU No. 2016-01 on October 1, 2018. The standard requires that changes in the fair value of our equity investments must be recognized in net income.
The following is a summary of the changes in accumulated other comprehensive loss, net of tax, by component for the fiscal year ended September 30, 2020:
(in thousands)
Defined Benefit Pension Plan
Balance at September 30, 2019
$
(28,635
)
Activity during the period
 
Amounts reclassified from accumulated other comprehensive loss
2,447

Net current-period other comprehensive loss
2,447

Balance at September 30, 2020
$
(26,188
)