Earnings Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share

3.     Earnings Per Share

Earnings per common share have been computed based on the following:

	For the three months ended
	March 31,
	2020		2019
Net income (loss)	$	(1,390)	$	7,068
Divided by:
Weighted average common shares outstanding		28,853		28,621
Weighted average common stock equivalents		—		—
Total weighted average common shares outstanding and common stock equivalents		28,853		28,621
Basic earnings (loss) per common share	$	(0.05)	$	0.25
Diluted earnings (loss) per common share (1)	$	(0.05)	$	0.25
Dividend payout ratio		n/a		84.0	%

(1) For the three months ended March 31, 2020 and 2019, there were no common stock equivalents that were anti-dilutive.