Annual report pursuant to Section 13 and 15(d)

Note 13 - Earnings Per Share

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Note 13 - Earnings Per Share
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

13. Earnings Per Share

 

The Company’s unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are deemed participating securities and are included in the computation of earnings per share under the two-class method when the effect is dilutive.

 

The following table presents the calculation of basic and diluted earnings per common share (in thousands, except per share amounts):

 

   

Year Ended December 31,

  
   

2020

    

2019

    

2018

  

Net income

   $ 37,790     $ 74,086     $ 248,827  

Less portion allocated to nonvested shares

     437       1,371       9,727  

Net income allocated to common shares

   $ 37,353     $ 72,715     $ 239,100  

Weighted average common shares outstanding

     141,622       140,583       139,002  

Basic and diluted earnings per common share

   $ 0.26     $ 0.52     $ 1.72