Earnings Per Share

9 Months Ended

Mar. 31, 2024

9. EARNINGS PER SHARE

Basic earnings per share (EPS) of common stock are based on the weighted-average number of common shares outstanding during each period. Diluted earnings per share of common stock include the dilutive effect of potential common shares outstanding. The Company’s potential common shares outstanding are stock options, shares associated with the long-term incentive compensation plans, and non-vested restricted stock units. The Company calculates the dilutive effect of outstanding options and restricted stock units using the treasury stock method. Anti-dilutive options are not included in the computation of diluted EPS when their exercise price is greater than the average closing market price of the common shares.


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Basic shares		5,154		5,179		5,175		5,249
Potential common shares:
Stock options		151		75		103		60
Non-vested restricted stock units and restricted shares		143		98		132		118
Diluted shares		5,448		5,352		5,410		5,427

Anti-dilutive shares		12		154		48		161

Cash dividends declared per common share were $0.15 and $0.45 for the three and nine months ended March 31, 2024, respectively, and were $0.15 and $0.45 for the three and nine months ended March 31, 2023, respectively.