No dividends were declared by the Company’s Board of Directors during the first three months of fiscal year 2021. The following table summarizes the dividends declared and paid during fiscal year 2020.

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

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.

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, 2020	$	(176,820)	$	134	$	(176,686)
Foreign currency translation adjustments		2,761		31		2,792
Defined benefit pension plans ⁽¹⁾		93		—		93
Derivative instruments ⁽²⁾		308		—		308
Ending balance, November 30, 2020	$	(173,658)	$	165	$	(173,493)


	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 ⁽¹⁾		26		—		26
Derivative Instruments ⁽²⁾		513		—		513
Ending balance, November 30, 2019	$	(147,524)	$	54	$	(147,470)


	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 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 loss related to the minimum pension liability are included in warehouse club and other operations in the Company's consolidated statements of income.

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