EARNINGS PER SHARE ("EPS")

9 Months Ended

Mar. 31, 2020

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 option awards and 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 (amounts in thousands, except share data):

	Three Months Ended				Nine Months Ended
	March 31,		March 31,		March 31,		March 31,
	2020		2019		2020		2019
Net income and comprehensive income available to Royal Gold common stockholders	$	38,554	$	28,772	$	150,329	$	67,368
Weighted-average shares for basic EPS		65,511,878		65,398,369		65,501,678		65,389,499
Effect of other dilutive securities		88,892		116,865		124,722		105,403
Weighted-average shares for diluted EPS		65,600,770		65,515,234		65,626,400		65,494,902
Basic earnings per share	$	0.59	$	0.44	$	2.30	$	1.03
Diluted earnings per share	$	0.59	$	0.44	$	2.29	$	1.03