EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE

13. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period, including outstanding unvested restricted stock awards and vested restricted stock awards during the period. Diluted EPS is computed by dividing net income by the weighted average number of shares outstanding, noted above, adjusted for the dilutive effect of stock options.  Dilutive securities are common stock equivalents that are freely exercisable into common stock at less than market prices or otherwise dilute earnings if converted. The net effect of common stock equivalents is based on the incremental common stock that would be issued upon the assumed exercise of common stock options and the vesting of RSAs using the treasury stock method. Common stock equivalents are not included in diluted earnings per share when their inclusion is antidilutive.

The computations of basic and diluted net income per share are as follows:

	Year Ended December 31,
	2017		2016		2015
	(In thousands, except per share data)
Net income attributable to Federated National Holding Company shareholders	$	7,989	$	1,015	$	39,301
Weighted average number of common shares outstanding - basic	13,170		13,758		13,729
Net income per share - basic		$0.61		$0.07		$2.86
Weighted average number of common shares outstanding - basic	13,170		13,758		13,729
Dilutive effect of stock compensation plans	80		164		268
Weighted average number of common shares outstanding - diluted	13,250		13,922		13,997
Net income per share - diluted	$	0.60	$	0.07	$	2.81
Dividends per share	$	0.32	$	0.27	$	0.18

Dividends Declared

In March 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, paid in June 2017, totaling $1.1 million.

In June 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, paid in September 2017, totaling $1.1 million.

In September 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, paid in December 2017, totaling $1.1 million.

In November 2017, the Company’s Board of Directors declared a dividend of $0.08 per common share, paid in March 2018, totaling $1.0 million.