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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2017
EARNINGS PER SHARE [Abstract]  
EARNINGS PER SHARE

11. EARNINGS PER SHARE



Basic earnings per share (“EPS”) is computed by dividing net income (loss) 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.



During the three months ended September 30, 2017, the Company was in a net loss position and therefore did not take antidilution into account for the calculation of diluted EPS. For the three months ended September 30, 2016, the computations of diluted EPS available to our shareholders do not include approximately 0.2 million stock options and RSAs,  as the effect of their inclusion would have been antidilutive to earnings per share. Additionally, the computation of diluted EPS for the nine months ended September 30, 2017 and 2016 did not include 0.1 million and 0.2 million stock options and RSAs, 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

 

Nine Months Ended



 

September 30,

 

September 30,



 

2017

 

2016

 

2017

 

2016



 

(in thousands, except per share data)

 

(in thousands, except per share data)

Net (loss) income attributable to Federated National Holding

 

 

 

 

 

 

 

 

 

 

 

 

Company shareholders

 

$

 (5,511)

 

$

 1,394 

 

$

 2,579 

 

$

 11,920 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

 basic

 

 

 13,135 

 

 

 13,780 

 

 

 13,211 

 

 

 13,807 

Net (loss) income per share - basic     

 

$

 (0.42)

 

$

 0.10 

 

$

 0.20 

 

$

 0.86 



 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

 basic

 

 

 13,135 

 

 

 13,780 

 

 

 13,211 

 

 

 13,807 

Dilutive effect of stock compensation plans

 

 

 -

 

 

 163 

 

 

 91 

 

 

 192 

Weighted average number of common shares outstanding -

 

 

 

 

 

 

 

 

 

 

 

 

diluted

 

 

 13,135 

 

 

 13,943 

 

 

 13,302 

 

 

 13,999 

Net (loss) income per share - diluted

 

$

 (0.42)

 

$

 0.10 

 

$

 0.19 

 

$

 0.85 



 

 

 

 

 

 

 

 

 

 

 

 

Dividends per share

 

$

 0.08 

 

$

 0.08 

 

$

 0.24 

 

$

 0.17 



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, paid September 2017, to shareholders of record on August 1, 2017, amounting to $1.1 million.



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