NET INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE

Income per common share is calculated for the years ended December 31, 2019, 2018 and 2017 as follows:  

(thousands except per share data)	2019		2018		2017
Net income	$	89,566	$	119,832	$	85,718
Weighted average common shares outstanding - basic	23,058		23,995		24,230
Effect of potentially dilutive securities	222		322		413
Weighted average common shares outstanding - diluted	23,280		24,317		24,643
Basic net income per common share	$	3.88	$	4.99	$	3.54
Diluted net income per common share	$	3.85	$	4.93	$	3.48
Cash dividends paid per common share	$	0.25	$	—	$	—

The impact on diluted net income per common share from antidilutive securities excluded from the calculation was immaterial for all periods presented.

On February 25, 2020, the Company’s Board of Directors declared a cash dividend of $0.25 per share of common stock.  The dividend will be payable on March 23, 2020 to shareholders of record at the close of business on March 9, 2020.