The Company presents net income attributable to Movado Group, Inc. after adjusting for redeemable noncontrolling interest, as applicable per share on a basic and diluted basis. Basic earnings per share is computed using weighted-average shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents.

The number of shares used in calculating basic and diluted earnings (loss) per share is as follows (in thousands):

	Three Months Ended July 31,				Six Months Ended July 31,
	2019		2018		2019		2018
Weighted average common shares outstanding:
Basic		23,138		23,245		23,127		23,172
Effect of dilutive securities:
Stock awards and options to purchase shares of common stock		154		467		243		413
Diluted		23,292		23,712		23,370		23,585

For the three months ended July 31, 2019 and 2018, approximately 410,000 and zero, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the six months ended July 31, 2019 and 2018, approximately 222,000 and 92,000, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive.

The Company declared quarterly cash dividends of $0.20 in both the first and second quarters of fiscal year 2020, representing $9.2 million in total dividends. Of this amount, $4.6 million was paid on June 25, 2019 and $4.6 million was paid on April 24, 2019. The Company declared quarterly cash dividends of $0.20 in both the first and second quarters of fiscal year 2019, representing $9.2 million in total dividends. Of this amount, $4.6 million was paid on June 25, 2018 and $4.6 million was paid on April 25, 2018.