14.

STOCKHOLDERS’ EQUITY

Preferred Stock

August 31, 2018

and

2017,

there were

10,000,000

shares of preferred stock (

$.01

par value per share) authorized, of which

shares were issued and outstanding. FactSet’s Board of Directors

may

from time to time authorize the issuance of

one

or more series of preferred stock and, in connection with the creation of such series, determine the characteristics of each such series including, without limitation, the preference and relative, participating, optional or other special rights, and the qualifications, limitations or restrictions of the series.

Common Stock

August 31, 2018

and

2017,

there were

150,000,000

shares of common stock (

$.01

par value per share) authorized, of which

39,264,849

and

51,845,132

shares were issued, respectively. The authorized shares of common stock are issuable for any proper corporate purpose, including future stock splits, stock dividends, acquisitions, raising equity capital or to adopt additional employee benefit plans.

Treasury Stock

January 31, 2018,

FactSet retired

13,292,689

shares of treasury stock. These retired shares are now included in the Company’s pool of authorized but unissued shares. The retired treasury stock was initially recorded using the cost method and had a carrying value of

$1.7

billion at

January 31, 2018.

The Company’s accounting policy upon the formal retirement of treasury stock is to deduct its par value from common stock (

$0.1

million), reduce additional paid-in capital (“APIC”) by the average amount recorded in APIC when stock was originally issued (

$186.7

million) and any remaining excess of cost as a deduction from retained earnings (

$1.5

billion). As of

August 31, 2018,

there were

1,072,263

shares of treasury stock (at cost) outstanding, a decrease compared to

12,822,100

as of

August 31, 2017

due to the aforementioned treasury stock retirement on

January 31, 2018.

Share Repurchase Program

Repurchases will be made from time to time in the open market and privately negotiated transactions, subject to market conditions. During fiscal

2018,

the Company repurchased

1,534,398

shares for

$302.4

million compared to

1,554,822

shares for

$252.8

million in fiscal

2017.

March 26, 2018,

the Board of Directors of FactSet approved a

$300.0

million expansion to the existing share repurchase program. Subsequent to this expansion

$241.7

million remain authorized for future share repurchases as of

August 31, 2018.

minimum number of shares to be repurchased has been fixed. There is

timeframe to complete the repurchase program and it is expected that share repurchases will be paid using existing and future cash generated by operations.

Restricted Stock

Restricted stock awards entitle the holder to shares of common stock as the awards vest over time. During fiscal

2018,

26,599

shares of previously granted restricted stock awards vested and were included in common stock outstanding as of

August 31, 2018 (

less

8,070

shares repurchased from employees at a cost of

$1.5

million to cover their cost of taxes upon vesting of the restricted stock). During fiscal

2017,

132,194

shares of previously granted restricted stock awards vested and were included in common stock outstanding as of

August 31, 2017 (

less

49,771

shares repurchased from employees at a cost of

$7.8

million to cover their cost of taxes upon vesting of the restricted stock).

Dividends

The Company’s Board of Directors declared the following dividends on our common stock during the periods presented:

Year Ended	Dividends per Share of Common Stock		Record Date	Total amount (in thousands)		Payment Date
Fiscal 2018
First Quarter	$	0.56	November 30, 2017	$	21,902	December 19, 2017
Second Quarter	$	0.56	February 28, 2018	$	21,799	March 20, 2018
Third Quarter	$	0.64	May 31, 2018	$	24,566	June 19, 2018
Fourth Quarter	$	0.64	August 31, 2018	$	24,443	September 18, 2018

Fiscal 2017
First Quarter	$	0.50	November 30, 2016	$	19,852	December 20, 2016
Second Quarter	$	0.50	February 28, 2017	$	19,709	March 21, 2017
Third Quarter	$	0.56	May 31, 2017	$	21,951	June 20, 2017
Fourth Quarter	$	0.56	August 31, 2017	$	21,853	September 19, 2017

All the above cash dividends were paid from existing cash resources. Future dividend payments will depend on the Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company and is subject to final determination by the Company’s Board of Directors.