2. Earnings Per Share and Dividends

a. Earnings Per Share

The Company calculates its basic earnings per share by dividing net income attributable to Jabil Circuit, Inc. by the weighted average number of common shares outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities. To the extent these securities are anti-dilutive, they are excluded from the calculation of diluted earnings per share. The following table sets forth the calculations of basic and diluted earnings per share attributable to the stockholders of Jabil Circuit, Inc. (in thousands, except earnings per share data):


	Three months ended				Six months ended
	February 28, 2013		February 29, 2012		February 28, 2013		February 29, 2012
Numerator:
Net income attributable to Jabil Circuit, Inc.	$	88,533	$	97,698	$	194,380	$	210,570

Denominator for basic and diluted earnings per share:
Denominator for basic earnings per share		202,458		207,287		203,393		206,337

Dilutive common shares issuable under the employee stock purchase plan and upon exercise of stock options and stock appreciation rights		53		422		77		381
Dilutive unvested restricted stock awards		4,293		4,439		4,004		4,692

Denominator for diluted earnings per share		206,804		212,148		207,474		211,410

Earnings per share:
Income attributable to the stockholders of Jabil Circuit, Inc.:
Basic	$	0.44	$	0.47	$	0.96	$	1.02

Diluted	$	0.43	$	0.46	$	0.94	$	1.00

For the three months and six months ended February 28, 2013 options to purchase 3,695,450 and 3,718,067 shares of common stock, respectively, and 4,551,902 and 4,578,718 stock appreciation rights, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive. For the three months and six months ended February 29, 2012 options to purchase 3,946,901 and 4,016,503 shares of common stock, respectively, and 3,519,840 and 5,035,989 stock appreciation rights, respectively, were excluded from the computation of diluted earnings per share as their effect would have been anti-dilutive.

b. Dividends

The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders of the Company during the six months ended February 28, 2013 and February 29, 2012:


	Dividend Declaration Date	Dividend per Share		Total Cash Dividends Declared		Date of Record for Dividend Payment	Dividend Cash Payment Date
	(in thousands, except for per share data)
Fiscal year 2013:	October 16, 2012	$	0.08	$	16,962	November 15, 2012	December 3, 2012
	January 23, 2013	$	0.08	$	16,990	February 15, 2013	March 1, 2013

Fiscal year 2012:	October 20, 2011	$	0.08	$	17,379	November 15, 2011	December 1, 2011
	January 25, 2012	$	0.08	$	17,323	February 16, 2012	March 1, 2012