EARNINGS PER SHARE

6 Months Ended

Mar. 31, 2022

All share, earnings per share, and dividends per share information has been retroactively adjusted to reflect the September 21, 2021 three-for-two stock split described in Note 1 of this Form-Q.

The following table presents the computation of basic and diluted earnings per common share.


	Three months ended March 31,				Six months ended March 31,
in millions, except per share amounts	2022		2021		2022		2021
Income for basic earnings per common share:
Net income	$	323	$	355	$	769	$	667
Less allocation of earnings and dividends to participating securities	—		—		(1)		(1)
Net income attributable to RJF common shareholders	$	323	$	355	$	768	$	666
Income for diluted earnings per common share:
Net income	$	323	$	355	$	769	$	667
Less allocation of earnings and dividends to participating securities	—		—		(1)		(1)
Net income attributable to RJF common shareholders	$	323	$	355	$	768	$	666
Common shares:
Average common shares in basic computation	207.7		206.7		207.0		206.0
Dilutive effect of outstanding stock options and certain RSUs	5.3		5.1		5.6		4.6
Average common and common equivalent shares used in diluted computation	213.0		211.8		212.6		210.6
Earnings per common share:
Basic	$	1.56	$	1.72	$	3.71	$	3.23
Diluted	$	1.52	$	1.68	$	3.61	$	3.16
Stock options and certain RSUs excluded from weighted-average diluted common shares because their effect would be antidilutive	—		0.2		0.5		0.3

The allocation of earnings and dividends to participating securities in the preceding table represents dividends paid during the period to participating securities, consisting of certain RSUs, plus an allocation of undistributed earnings to such participating securities. Participating securities and related dividends paid on these participating securities were insignificant for each of the three and six months ended March 31, 2022 and 2021. Undistributed earnings are allocated to participating securities based upon their right to share in earnings if all earnings for the period had been distributed.

Dividends per common share declared and paid are detailed in the following table for each respective period.


	Three months ended March 31,				Six months ended March 31,
	2022		2021		2022		2021
Dividends per common share - declared	$	0.34	$	0.26	$	0.68	$	0.52
Dividends per common share - paid	$	0.34	$	0.26	$	0.60	$	0.51