Earnings Per Share

6 Months Ended

Sep. 30, 2021

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands, except share and per share data)	2021		2020		2021		2020

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	19,510	$	7,502	$	25,867	$	14,776




Denominator for basic earnings per share
Weighted average shares outstanding	24,776,930		24,658,895		24,745,827		24,630,886

Basic earnings per share	$	0.79	$	0.30	$	1.05	$	0.60

Diluted Earnings Per Share
Numerator for diluted earnings per share



Net income attributable to Universal Corporation	$	19,510	$	7,502	$	25,867	$	14,776

Denominator for diluted earnings per share:
Weighted average shares outstanding	24,776,930		24,658,895		24,745,827		24,630,886
Effect of dilutive securities

Employee and outside director share-based awards	139,416		111,526		148,539		106,248
Denominator for diluted earnings per share	24,916,346		24,770,421		24,894,366		24,737,134

Diluted earnings per share	$	0.78	$	0.30	$	1.04	$	0.60