Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

The components of the computation of basic and diluted EPS were as follows:

	Three Month Period Ended March 31,
	2012			2011
(In thousands except share amounts)
Net increase in shareholders' equity resulting from operations	$	32,055		$	11,107
Net increase in shareholders' equity resulting from operations available to common share and LTIP holders:		32,055			11,107
Net increase in shareholders' equity resulting from operations - common shares		31,312			10,854
Net increase in shareholders' equity resulting from operations - LTIPs		743			253
Dividends Paid:
Common Shares		(6,579	)		(21,621	)
LTIPs		(156	)		(505	)
Total dividends paid to common share and LTIP holders		(6,735	)		(22,126	)
Undistributed earnings:
Common Shares		24,733			(10,768	)
LTIPs		587			(251	)
Total undistributed earnings attributable to common share and LTIP holders	$	25,320		$	(11,019	)
Weighted average shares outstanding (basic and diluted):
Weighted average common shares outstanding		16,447,651			16,501,400
Weighted average participating LTIPs		390,500			385,000
Basic earnings per common share:
Distributed	$	0.40		$	1.31
Undistributed		1.50			(0.65	)
	$	1.90		$	0.66
Diluted earnings per common share:
Distributed	$	0.40		$	1.31
Undistributed		1.50			(0.65	)
	$	1.90		$	0.66

The Company pays quarterly dividends in arrears. Dividends paid in the table above relate to the respective period's prior period earnings.