SHAREHOLDERS' EQUITY

6 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 8 SHAREHOLDERS’ EQUITY

The Company has an evergreen authorization from the Board of Directors (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 three and six months ended March 31, 2022, we repurchased 0.6 million and 3.2 million common shares at an aggregate cost of $16.6 million and $77.0 million, respectively, which are held as treasury shares. We had no repurchases of common shares during the six months ended March 31, 2021.

A cash dividend of $0.25 per share was declared on December 10, 2021 for shareholders of record on February 11, 2022, and was paid on February 28, 2022. An additional cash dividend of $0.25 per share was declared on March 2, 2022 for shareholders of record on May 13, 2022, payable on May 27, 2022. As a result, we recorded a dividend payable of $26.7 million within Dividends Payable on our Unaudited Condensed Consolidated Balance Sheets as of March 31, 2022.

Accumulated Other Comprehensive Loss

Components of accumulated other comprehensive loss were as follows:

(in thousands)	March 31, 2022		September 30, 2021
Pre-tax amounts:
Unrecognized net actuarial loss	$	(25,254)	$	(26,268)
	(25,254)		(26,268)
After-tax amounts:
Unrecognized net actuarial loss	(19,456)		(20,244)
	$	(19,456)	$	(20,244)

The following is a summary of the changes in accumulated other comprehensive loss, net of tax, related to the defined benefit pension plan for the three and six months ended March 31, 2022:

(in thousands)	Three Months Ended March 31, 2022		Six Months Ended March 31, 2022
Balance at beginning of period	$	(19,850)	$	(20,244)
Activity during the period
Amounts reclassified from accumulated other comprehensive loss	394		788
Net current-period other comprehensive income	394		788
Balance at March 31, 2022	$	(19,456)	$	(19,456)