Earnings per Share and Dividends per Share

6 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings per Share and Dividends per Share

(11) Earnings per Share and Dividends per Share 

Basic earnings per share is determined by dividing net earnings by the weighted average number of shares of common stock outstanding, while diluted earnings per share is determined by dividing net earnings by the weighted average number of shares of common stock outstanding adjusted for the dilutive effect of common stock equivalents, which consist of RSUs.

For the six months ended March 31, 2023 and 2022, the Company excluded 98,991 and 357 common stock equivalents, respectively, from the diluted earnings per share calculations because they were not dilutive. In each case, the excluded common stock equivalents consisted of non-vested RSUs.

The Company paid a quarterly cash dividend of $0.1375 per share on March 6, 2023, to shareholders of record as of February 21, 2023.