Earnings per Share and Dividends per Share

9 Months Ended

Jun. 30, 2021

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”).

The Company did not exclude any common stock equivalents from the diluted earnings per share calculations for the three months ended June 30, 2021. For the nine months ended June 30, 2021, the Company excluded 73,852 common stock equivalents from the diluted earnings per share calculations because they were not dilutive.

For the three and nine months ended June 30, 2020, the Company excluded 154,539 and

184,871

common stock equivalents, respectively, from the diluted earnings per share calculations because they were not dilutive. In all cases, the excluded common stock equivalents consisted of non-vested RSUs.

The Company paid a quarterly cash dividend of $0.1375 per share on June 4, 2021, to shareholders of record as of

May 25, 2021.