EX-11 5 exh11.htm COMPUTATION RE: EARNINGS PER SHARE Exhibit Number 11

Exhibit Number 11


DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARY


STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS


The following is a reconciliation of the numerator and denominator of basic earnings per share and diluted earnings per share for the six-month periods ended December 31, 2002 and 2001 and for the years ended June 30, 2002, 2001 and 2000:


 

Six Months Ended December 31,

 


Fiscal Year Ended June 30,

 

2002

2001

 

2002

2001

2000

Numerator:

      

Net Income per the Consolidated Statement

   of Operations


$23,460


$17,515

 


$38,677


$25,240


$22,374

Denominator:

      

Average shares outstanding utilized in the

   calculation of basic earnings per share


24,191,407


23,598,077

 


23,910,023


23,845,878


25,371,234

       

Unvested shares of Recognition and Retention Plan

43,043

232,776

 

140,771

397,404

601,985

Common stock equivalents resulting from the

   dilutive effect of "in-the-money" stock options


1,008,342


1,119,847

 


995,508


921,470


568,742

Average shares outstanding utilized in the

   calculation of diluted earnings per share


25,242,792


24,950,700

 


25,046,302


25,164,752


26,541,961


Note:  All shares amounts stated reflect the Company's 3-for-2 stock splits in the form of 50% stock dividends that were paid on August 21, 2001 and April 24, 2002.