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Accrued Dividends Payable and Dividends per Common Share
 3 Months Ended
Aug. 29, 2020
Earnings Per Share Reconciliation [Abstract]  
Accrued Dividends Payable and Dividends Per Common Share Accrued Dividends Payable and Dividends per Common Share
We accrue dividends at the end of each quarter according to the Company’s dividend policy adopted by its Board of Directors. The Company pays a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income attributable to Cal-Maine Foods, Inc. computed in accordance with GAAP in an amount equal to one-third (1/3) of such quarterly income. Dividends are paid to shareholders of record as of the 60th day following the last day of such quarter, except for the fourth fiscal quarter.  For the fourth quarter, the Company pays dividends to shareholders of record on the 65th day after the quarter end. Dividends are payable on the 15th day following the record date. Following a quarter for which the Company does not report net income attributable to Cal-Maine Foods, Inc., the Company will not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the last quarter for which a dividend was paid. At the end of the first quarter of fiscal 2021, the amount of cumulative losses to be recovered before payment of a dividend was $20.8 million.

On our condensed consolidated statement of operations, we determine dividends per common share in accordance with the computation in the following table (in thousands, except per share data):

13 Weeks Ended
August 29, 2020August 31, 2019
Net loss attributable to Cal-Maine Foods, Inc.$(19,399)$(45,760)
Cumulative losses to be recovered prior to payment of divided at beginning of period(1,370)(19,761)
Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend$— $— 
1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend— 
Common stock outstanding (shares)43,972 
Class A common stock outstanding (shares)4,800 
Total common stock outstanding (shares)48,772 
Dividends per common share*$— 
*Dividends per common share = 1/3 of Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares).