Income and Dividends Per Share of Common Stock

3 Months Ended

Mar. 31, 2025

Income and Dividends Per Share of Common Stock

Income and Dividends Per Share of Common Stock

5. Income and Dividends Per Share of Common Stock

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2025		2024
Net income for basic and diluted income per common share	$	34,113	$	22,439
Weighted-average shares for basic income per common share		28,623		28,537
Effect of dilutive securities:
Employee and director stock options(1)		96		86
Adjusted weighted-average shares and assumed exercises for diluted income per common share		28,719		28,623
Basic net income per common share	$	1.19	$	0.79
Diluted net income per common share	$	1.19	$	0.78

(1) No stock options were excluded due to being antidilutive.

The Company paid $0.06 and $0.05 of cash dividends per share of common stock in the three months ended March 31, 2025 and 2024, respectively.