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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2017
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE

11. 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 diluted EPS available to our shareholders do not include approximately 0.3 and 0.2 million stock options and RSAs for the three months ended June 30, 2017 and 2016,  respectively, and 0.1 and 0.2 million stock options and RSAs for the six months ended June 30, 2017 and 2016, respectively, as the effect of their inclusion would have been antidilutive to earnings per share.



The following table presents the calculation of basic and diluted EPS:







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended

 

Six Months Ended



 

June 30,

 

June 30,



 

2017

 

2016

 

2017

 

2016



 

(in thousands, except per share data)

 

(in thousands, except per share data)

Net income attributable to Federated National Holding

 

 

 

 

 

 

 

 

 

 

 

 

Company shareholders

 

$

 4,945 

 

$

 991 

 

$

 8,090 

 

$

 10,526 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

 basic

 

 

 13,171 

 

 

 13,805 

 

 

 13,305 

 

 

 13,816 

Net income per share - basic     

 

$

 0.38 

 

$

 0.07 

 

$

 0.61 

 

$

 0.76 



 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

 basic

 

 

 13,171 

 

 

 13,805 

 

 

 13,305 

 

 

 13,816 

Dilutive effect of stock compensation plans

 

 

 86 

 

 

 183 

 

 

 100 

 

 

 197 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

diluted

 

 

 13,256 

 

 

 13,988 

 

 

 13,405 

 

 

 14,013 

Net income per share - diluted

 

$

 0.37 

 

$

 0.07 

 

$

 0.60 

 

$

 0.75 



 

 

 

 

 

 

 

 

 

 

 

 

Dividends per share

 

$

 0.08 

 

$

 0.06 

 

$

 0.16 

 

$

 0.11 



Dividends Declared



In March 2017, our Board of Directors declared a $0.08 per common share dividend, paid in June 2017, to shareholders of record on May 1, 2017, amounting to $1.1 million.



In June 2017, our Board of Directors declared a $0.08 per common share dividend payable on September 1, 2017 to shareholders of record on August 1, 2017.