Earnings Per Share

9 Months Ended

Dec. 31, 2023

EARNINGS PER SHARE

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


	Three Months Ended December 31,				Nine Months Ended December 31,
(in thousands, except share and per share data)	2023		2022		2023		2022

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	53,216	$	41,660	$	79,280	$	70,345




Denominator for basic earnings per share
Weighted average shares outstanding	24,849,498		24,770,294		24,853,774		24,772,827

Basic earnings per share	$	2.14	$	1.68	$	3.19	$	2.84

Diluted Earnings Per Share
Numerator for diluted earnings per share



Net income attributable to Universal Corporation	$	53,216	$	41,660	$	79,280	$	70,345

Denominator for diluted earnings per share:
Weighted average shares outstanding	24,849,498		24,770,294		24,853,774		24,772,827
Effect of dilutive securities

Employee and outside director share-based awards	206,331		158,132		163,393		161,620
Denominator for diluted earnings per share	25,055,829		24,928,426		25,017,167		24,934,447

Diluted earnings per share	$	2.12	$	1.67	$	3.17	$	2.82