Earnings Per Share

6 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands, except share and per share data)	2020		2019		2020		2019

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	7,502	$	28,077	$	14,776	$	30,149




Denominator for basic earnings per share
Weighted average shares outstanding	24,658,895		25,086,580		24,630,886		25,122,283

Basic earnings per share	$	0.30	$	1.12	$	0.60	$	1.20

Diluted Earnings Per Share
Numerator for diluted earnings per share



Net income attributable to Universal Corporation	$	7,502	$	28,077	$	14,776	$	30,149

Denominator for diluted earnings per share:
Weighted average shares outstanding	24,658,895		25,086,580		24,630,886		25,122,283
Effect of dilutive securities

Employee and outside director share-based awards	111,526		110,745		106,248		118,317
Denominator for diluted earnings per share	24,770,421		25,197,325		24,737,134		25,240,600

Diluted earnings per share	$	0.30	$	1.11	$	0.60	$	1.19