EX-11 3 dex11.htm COMPUTATION OF EARNINGS PER SHARE Prepared by R.R. Donnelley Financial -- Computation of Earnings Per Share
 
Exhibit 11
 
 
ALFA CORPORATION
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
(Unaudited)
 
The following computations set forth the calculation of basic and diluted common share and common share equivalents for the three months ended ended March 31, 2002 and 2001:
    
Three Months Ended
March 31,
    
2002
   
2001
Net income
   
$
18,468,147
   
$
14,333,676
    
  
Weighted average number of common shares outstanding
   
 
39,220,472
   
 
39,153,707
    
  
Net income per common share—Basic
   
$
0.47
   
$
0.37
    
  
               
               
    
Three Months Ended
March 31,
    
2002
   
2001
Net income
   
$
18,468,147
   
$
14,333,676
    
  
Weighted average number of common shares outstanding
   
 
39,220,472
   
 
39,153,707
Common share equivalents resulting from:
              
Dilutive stock options
   
 
400,558
   
 
269,706
    
  
Adjusted weighted average number of common and common equivalent shares outstanding
   
 
39,621,030
   
 
39,423,413
    
  
Net income per common share—Diluted
   
$
0.47
   
$
0.36