Quarter ended June 30,

Six months ended June 30,

2024

2023

2024

2023

(in thousands except per share amounts)

Net income

$

25,434

$

24,624

$

73,042

$

85,321

Dividends on preferred shares

(10,455

)

(10,454

)

(20,909

)

(20,909

)

Effect of participating securities—share-based compensation awards

(106

)

(100

)

(217

)

(202

)

Net income attributable to common shareholders

14,873

14,070

51,916

64,210

Interest on Exchangeable Notes, net of income taxes

—

—

—

12,682

Diluted net income attributable to common shareholders

$

14,873

$

14,070

$

51,916

$

76,892

Weighted average basic shares outstanding

86,849

87,269

86,769

88,046

Dilutive securities:

Shares issuable pursuant to exchange of the Exchangeable Notes

—

—

—

24,328

Diluted weighted average shares outstanding

86,849

87,269

86,769

112,374

Basic earnings per share

$

0.17

$

0.16

$

0.60

$

0.73

Diluted earnings per share

$

0.17

$

0.16

$

0.60

$

0.68