Earnings Per Share and Dividends

6 Months Ended

Jun. 30, 2021

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,
	2021		2020		2021		2020
Numerator
Net income attributable to RE/MAX Holdings, Inc.	$	5,201	$	3,489	$	6,293	$	6,120
Denominator for basic net income per share of Class A common stock
Weighted average shares of Class A common stock outstanding		18,719,477		18,123,963		18,608,005		18,049,114
Denominator for diluted net income per share of Class A common stock
Weighted average shares of Class A common stock outstanding		18,719,477		18,123,963		18,608,005		18,049,114
Add dilutive effect of the following:
Restricted stock		221,866		22,923		296,031		41,145
Weighted average shares of Class A common stock outstanding, diluted		18,941,343		18,146,886		18,904,036		18,090,259
Earnings per share of Class A common stock
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, basic	$	0.28	$	0.19	$	0.34	$	0.34
Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, diluted	$	0.27	$	0.19	$	0.33	$	0.34

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,
	2021							2020
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 17, 2021	$	0.23	$	4,326	$	2,889	March 18, 2020	$	0.22	$	3,986	$	2,763
June 30	June 2, 2021		0.23		4,345		2,889	June 2, 2020		0.22		3,987		2,763
		$	0.46	$	8,671	$	5,778		$	0.44	$	7,973	$	5,526

On August 3, 2021, the Company’s Board of Directors declared a quarterly dividend of $0.23 per share on all outstanding shares of Class A common stock, which is payable on August 31, 2021 to stockholders of record at the close of business on August 17, 2021.