EARNINGS PER SHARE ("EPS")

3 Months Ended

Sep. 30, 2019

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")

8.    EARNINGS PER SHARE (“EPS”)

Basic earnings 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 used to determine basic earnings 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 per common share.

The following tables summarize the effects of dilutive securities on diluted EPS for the period:

	Three Months Ended
	September 30,		September 30,
	2019		2018
		(in thousands, except per share data)
Net income available to Royal Gold common stockholders	$	70,453	$	15,008
Weighted-average shares for basic EPS		65,465,611		65,374,866
Effect of other dilutive securities		150,315		122,293
Weighted-average shares for diluted EPS		65,615,926		65,497,159
Basic earnings per share	$	1.07	$	0.23
Diluted earnings per share	$	1.07	$	0.23