Equity and EPS

3 Months Ended

Mar. 31, 2020

The computations of basic and diluted EPS:


	Quarter Ended March 31,
	2020		2019
Operations:
Net income^(a)	$	9,842	$	9,720
Less: Income attributable to participating securities^(b)	66		66
Net income attributable to common shareholders	$	9,776	$	9,654

Share information:


Basic and diluted weighted average common shares^(c)	17,013,925		16,967,631

Basic and diluted EPS	$	0.57	$	0.57

(a)Net income attributable to all shareholders.

(b)Participating securities included 116,127 and 112,865 unvested restricted stock units (“RSUs”), at March 31, 2020 and 2019, respectively.

(c)Under the two-class method, basic and diluted weighted average common shares at March 31, 2020 and 2019, exclude unvested participating securities.

Share Repurchase. On February 25, 2019, our Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019, through February 27, 2022. Under the share repurchase program, we can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by us at any time without prior notice. During the quarter ended March 31, 2020, the Company repurchased approximately 159,104 shares of MGP Common Stock for $4,053, resulting in $20,947 remaining under the share repurchase plan. The shares were repurchased in multiple separate tranches with the final purchase concluding on March 16, 2020.