Note 11 - Earnings Per Share and Dividends Per Share

6 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

(11) Earnings per Share and Dividends per Share

 The weighted average common shares outstanding used in the calculation of basic earnings per share and weighted average common shares outstanding, adjusted for common stock equivalents, used in the computation of diluted earnings per share were as follows:

	Three Months Ended March 31,
	2024		2023
Weighted average common stock outstanding, basic		7,676,099		7,574,360
Dilutive impact of RSUs		24,104		36,369
Weighted average common stock outstanding, diluted		7,700,203		7,610,729
	Six Months Ended March 31,
	2024		2023
Weighted average common stock outstanding, basic		7,674,134		7,573,397
Dilutive impact of RSUs		10,111		21,603
Weighted average common stock outstanding, diluted		7,684,245		7,595,000

For the three months ended March 31, 2024 and 2023, the Company excluded 176,809 and 0 common stock equivalents, respectively, from the diluted earnings per share calculations because they were not dilutive. For the six months ended March 31, 2024 and 2023, the Company excluded 222,496 and 98,991 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 March 4, 2024, to shareholders of record as of February 20, 2024.