Earnings per Share

6 Months Ended

Feb. 28, 2021

Earnings per Share

Earnings per Share

Note 5.    Earnings per Share

The following is a reconciliation of the numerators and denominators of the basic and diluted computations for earnings per common share (in thousands, except per share data):

	Three Months Ended				Six Months Ended
	February 28,		February 29,		February 28,		February 29,
(In thousands, except share and per share amounts)	2021		2020		2021		2020
EPS:
Net income	$	1,394	$	2,598	$	2,245	$	4,515
Less:  accrued preferred stock dividends		(19)		(19)		(38)		(38)
Net income available for common shareholders	$	1,375	$	2,579	$	2,207	$	4,477
Earnings per common share  – basic and diluted	$	0.28	$	0.53	$	0.45	$	0.92

For the three and six months ended February 28, 2021 and February 29, 2020, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been included in the computation of diluted earnings per share, which had no effect on basic earnings per share.