8. EARNINGS PER SHARE (“EPS”)

Basic earnings (loss) per common share were computed using the weighted average number of shares of common stock outstanding during the period, considering the effect of participating securities. Unvested stock‑based compensation awards that contain non‑forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two‑class method. The Company’s unvested restricted stock awards contain non‑forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. The Company’s unexercised stock options, unexercised SSARs and unvested performance stock do not contain rights to dividends. Under the two‑class method, the earnings (loss) used to determine basic earnings (loss) per common share are reduced by an amount allocated to participating securities. Use of the two‑class method has an immaterial impact on the calculation of basic and diluted earnings (loss) per common share.

The following table summarizes the effects of dilutive securities on diluted EPS for the period:


	Fiscal Year Ended June 30,
	2019		2018		2017
	(in thousands, except per share data)
Net income (loss) available to Royal Gold common stockholders	$	93,825	$	(113,134)	$	101,530
Weighted-average shares for basic EPS		65,394,627		65,291,855		65,152,782
Effect of other dilutive securities		110,908		—		125,171
Weighted-average shares for diluted EPS		65,505,535		65,291,855		65,277,953
Basic earnings (loss) per share	$	1.43	$	(1.73)	$	1.55
Diluted earnings (loss) per share	$	1.43	$	(1.73)	$	1.55