Earnings per Share and Dividends per Share

3 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings per Share and Dividends per Share

(10) Earnings per Share and Dividends per Share

Basic earnings per share is determined by dividing net earnings by the weighted average number of shares of common stock outstanding, while diluted earnings per share is determined by dividing net earnings by the weighted average number of shares of common stock outstanding adjusted for the dilutive effect of common stock equivalents, which consist of restricted stock units (“RSUs”).

For the three months ended December 31, 2020 and 2019, the Company excluded 227,410 and 184,871 common stock equivalents, respectively, from the diluted earnings per share calculations because they were not dilutive. In each case, the excluded common stock equivalents consisted of non-vested RSUs.

The Company paid a quarterly cash dividend of $0.1375 per share on December 2, 2020, to shareholders of record as of November 12, 2020.