Earnings Per Share

9 Months Ended

Sep. 30, 2024

Basic earnings per share is computed by dividing net income attributable to common stockholders by the number of weighted average shares of voting common stock outstanding, including unvested restricted stock awards which contain rights to non-forfeitable dividends. Diluted earnings per share is computed by dividing net income attributable to common stockholders by the number of weighted average shares of voting common stock outstanding, adjusted for the dilutive impact of unissued shares paid to directors during the year as compensation. A reconciliation of the number of shares used in the calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023 follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Weighted average number of common shares outstanding	66,769,195	67,252,265	66,902,644	68,205,621
Effect of non-participatory equity compensation	15,392	14,965	15,392	14,965
Weighted average number of common shares outstanding, including effect of dilutive securities	66,784,587	67,267,230	66,918,036	68,220,586