STOCKHOLDERS' EQUITY

3 Months Ended

Nov. 30, 2019

NOTE 5 – STOCKHOLDERS’ EQUITY

Dividends

No dividends were declared by the Company’s Board of Directors during the first three months of fiscal year 2020. The following table summarizes the dividends declared and paid during fiscal year 2019.

First Payment

Second Payment

Declared

Amount

Record
‎Date

Date
‎Paid

Amount

Record
‎Date

Date
‎Paid

Amount

1/30/2019

0.70

2/15/2019

2/28/2019

0.35

8/15/2019

8/30/2019

0.35

The Company anticipates the ongoing payment of semi-annual dividends in subsequent periods, although the actual declaration of future dividends, the amount of such dividends, and the establishment of record and payment dates is subject to final determination by the Board of Directors at its discretion after its review of the Company’s financial performance and anticipated capital requirements.

Comprehensive Income and Accumulated Other Comprehensive Loss

The following tables disclose the effects of each component of other comprehensive income (loss), net of tax (in thousands):



	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2019	$	(144,339)	$	20	$	(144,319)
Foreign currency translation adjustments		(3,724)		34		(3,690)
Defined benefit pension plans		26		—		26
Derivative instruments ⁽¹⁾		513		—		513
Ending balance, November 30, 2019	$	(147,524)	$	54	$	(147,470)



	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2018	$	(121,216)	$	(1)	$	(121,217)
Foreign currency translation adjustments		(13,397)		(1)		(13,398)
Defined benefit pension plans		28		—		28
Derivative Instruments ⁽¹⁾		123		—		123
Ending balance, November 30, 2018	$	(134,462)	$	(2)	$	(134,464)



	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2018	$	(121,216)	$	(1)	$	(121,217)
Foreign currency translation adjustments		(19,717)		21		(19,696)
Defined benefit pension plans		(112)		—		(112)
Derivative Instruments ⁽¹⁾		(3,369)		—		(3,369)
Amounts reclassified from accumulated other comprehensive income (loss) ⁽²⁾		75		—		75
Ending balance, August 31, 2019	$	(144,339)	$	20	$	(144,319)

⁽¹⁾See Note 8 - Derivative Instruments and Hedging Activities.

⁽²⁾Amounts reclassified from accumulated other comprehensive loss related to the minimum pension liability are included in warehouse club and other operations in the Company's consolidated statements of income.

Retained Earnings Not Available for Distribution

The following table summarizes retained earnings designated as legal reserves of various subsidiaries which cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):

November 30,

August 31,

Retained earnings not available for distribution