Stockholders' Equity

6 Months Ended

Feb. 29, 2020

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Share Repurchase Program

Repurchases are made from time to time in the open market and privately negotiated transactions, subject to market conditions. For the three months ended February 29, 2020 and February 28, 2019, the Company repurchased 267,500 shares for $74.2 million and 214,945 shares for $44.1 million, respectively. For the six months ended February 29, 2020 and February 28, 2019, the Company repurchased 610,500 shares for $158.6 million and 489,945 shares for $104.6 million, respectively.

As of February 29, 2020, $80.0 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 24, 2020, the Board of Directors of FactSet approved a $220.0 million increase to the existing share repurchase program. Subsequent to this expansion, a total of $300.0 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. During the first six months of fiscal 2020, previously granted restricted stock of 16,476 shares 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). During the comparable period a year ago, 75,530 shares of previously granted restricted stock vested and were included in common stock outstanding as of February 28, 2019 (recorded net of 27,852 shares repurchased from employees at a cost of $6.1 million to cover their cost of taxes upon vesting of the restricted stock).

Dividends

The Company’s Board of Directors declared the following dividends for the first six months of fiscal 2020 and 2019 respectively:

Year Ended	Dividends per Share of Common Stock		Record Date	Total $ Amount (in thousands)		Payment Date
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
Fiscal 2019
First Quarter	$	0.64	November 30, 2018	$	24,372	December 18, 2018
Second Quarter	$	0.64	February 28, 2019	$	24,385	March 19, 2019

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.