STOCKHOLDERS' EQUITY

12 Months Ended

Aug. 31, 2020

NOTE 6 – STOCKHOLDERS’ EQUITY

Dividends

The following table summarizes the dividends declared and paid during fiscal years 2020, 2019 and 2018.



			First Payment				Second Payment
Declared	Amount		Record ‎Date	Date ‎Paid	Amount		Record ‎Date	Date ‎Paid	Amount
2/6/2020	$	0.70	2/15/2020	2/28/2020	$	0.35	8/15/2020	8/31/2020	$	0.35
1/30/2019	$	0.70	2/15/2019	2/28/2019	$	0.35	8/15/2019	8/30/2019	$	0.35
1/24/2018	$	0.70	2/14/2018	2/28/2018	$	0.35	8/15/2018	8/31/2018	$	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, taking into account the uncertainty surrounding the ongoing effects of the COVID-19 pandemic on our results of operations and cash flows.

Comprehensive Income and Accumulated Other Comprehensive Loss

The following table discloses the changes in each component of other comprehensive income (loss), net of tax (in thousands):


	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, August 31, 2017	$	(110,059)	$	—	$	(110,059)
Foreign currency translation adjustments		(12,890)		(1)		(12,891)
Defined benefit pension plans ⁽¹⁾		(87)		—		(87)
Derivative Instruments ⁽²⁾		1,785		—		1,785
Amounts reclassified from accumulated other comprehensive income (loss)		35		—		35
Ending balance, August 31, 2018	$	(121,216)	$	(1)	$	(121,217)
Foreign currency translation adjustments		(19,717)		21		(19,696)
Defined benefit pension plans ⁽¹⁾		(112)		—		(112)
Derivative Instruments ⁽²⁾		(3,369)		—		(3,369)
Amounts reclassified from accumulated other comprehensive income (loss)		75		—		75
Ending balance, August 31, 2019	$	(144,339)	$	20	$	(144,319)
Foreign currency translation adjustments		(29,413)		114		(29,299)
Defined benefit pension plans ⁽¹⁾		(79)		—		(79)
Derivative Instruments ⁽²⁾		(5,803)		—		(5,803)
Amounts reclassified from accumulated other comprehensive income (loss)		2,814		—		2,814
Ending balance, August 31, 2020	$	(176,820)	$	134	$	(176,686)

⁽¹⁾Amounts reclassified from accumulated other comprehensive income (loss) related to the minimum pension liability are included in warehouse club and other operations in the Company's Consolidated Statements of Income.

⁽²⁾Refer to Part II. “Item 8. Financial Statements and Supplementary Data: Notes to Consolidated Financial Statements, Note 13 - Derivative Instruments and Hedging Activities.”

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):

August 31,

August 31,

Retained earnings not available for distribution