Earnings Per Share and Dividends

6 Months Ended

Jun. 30, 2020

Earnings Per Share and Dividends

Earnings Per Share and Dividends

4. Earnings Per Share and Dividends

Earnings Per Share

The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations (in thousands, except shares and per share information):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator
Net income attributable to RE/MAX Holdings, Inc.	$	3,489	$	8,570	$	6,120	$	12,979
Denominator for basic net income per share of Class A common stock
Weighted average shares of Class A common stock outstanding		18,123,963		17,808,321		18,049,114		17,791,942
Denominator for diluted net income per share of Class A common stock
Weighted average shares of Class A common stock outstanding		18,123,963		17,808,321		18,049,114		17,791,942
Add dilutive effect of the following:
Restricted stock units		22,923		25,637		41,145		33,938
Weighted average shares of Class A common stock outstanding, diluted		18,146,886		17,833,958		18,090,259		17,825,880
Earnings per share of Class A common stock
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, basic	$	0.19	$	0.48	$	0.34	$	0.73
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, diluted	$	0.19	$	0.48	$	0.34	$	0.73

Outstanding Class B common stock does not share in the earnings of Holdings and is therefore not a participating security. Accordingly, basic and diluted net income per share of Class B common stock has not been presented.

Dividends

Dividends declared and paid during each quarter ended per share on all outstanding shares of Class A common stock were as follows (in thousands, except per share information):

	Six Months Ended June 30,
	2020							2019
Quarter end declared	Date paid	Per share		Amount paid to Class A stockholders		Amount paid to non-controlling unitholders		Date paid	Per share		Amount paid to Class A stockholders		Amount paid to non-controlling unitholders
March 31	March 18, 2020	$	0.22	$	3,986	$	2,763	March 20, 2019	$	0.21	$	3,740	$	2,638
June 30	June 2, 2020		0.22		3,987		2,763	May 29, 2019		0.21		3,739		2,637
		$	0.44	$	7,973	$	5,526		$	0.42	$	7,479	$	5,275

On August 5, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.22 per share on all outstanding shares of Class A common stock, which is payable on September 2, 2020 to stockholders of record at the close of business on August 19, 2020.