Earnings per Share

6 Months Ended

Feb. 28, 2023

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 28,
	2023		2022		2023		2022
(In thousands, except share and per share amounts)
EPS:
Net income	$	5,100	$	3,407	$	9,811	$	10,193
Less: accrued preferred stock dividends		(19)		(19)		(38)		(38)
Net income available for common shareholders	$	5,081	$	3,388	$	9,773	$	10,155
Earnings per common share – basic and diluted	$	1.05	$	0.70	$	2.01	$	2.09

For the three and six months ended February 28, 2023 and 2022, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A cumulative convertible preferred stock) have been excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive since the conversion price was greater than the average market price of the common stock.