Earnings Per Share and Dividends

9 Months Ended

May 31, 2021

Earnings Per Share

The Company calculates its basic earnings per share by dividing net income attributable to the Company by the weighted average number of common shares outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities. The difference between the weighted average number of basic shares outstanding and the weighted average number of diluted shares outstanding is primarily due to dilutive unvested restricted stock units and dilutive stock appreciation rights.

Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be antidilutive. Performance-based restricted stock units are considered dilutive when the related performance criteria have been met assuming the end of the reporting period represents the end of the performance period. All potential shares of common stock are antidilutive in periods of net loss. Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):


	Three months ended		Nine months ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Restricted stock units	665	3,717	665	3,379
Employee stock purchase plan	—	57	—	92
Stock appreciation rights	—	5	—	28

Dividends

The following table sets forth cash dividends declared by the Company to common stockholders during the nine months ended May 31, 2021 and 2020 (in thousands, except for per share data):


	Dividend Declaration Date	Dividend per Share		Total of Cash Dividends Declared		Date of Record for Dividend Payment	Dividend Cash Payment Date
Fiscal Year 2021:	October 15, 2020	$	0.08	$	12,417	November 16, 2020	December 2, 2020
	January 21, 2021	$	0.08	$	12,371	February 15, 2021	March 2, 2021
	April 22, 2021	$	0.08	$	12,169	May 14, 2021	June 2, 2021
Fiscal Year 2020:	October 17, 2019	$	0.08	$	12,647	November 15, 2019	December 2, 2019
	January 23, 2020	$	0.08	$	12,517	February 14, 2020	March 4, 2020
	April 15, 2020	$	0.08	$	12,452	May 15, 2020	June 3, 2020