| Earnings Per Share and Dividends |
4. Earnings Per Share and Dividends Earnings Per Share The following is a reconciliation of the numerator and denominator used in the basic and diluted EPS calculations (in thousands, except shares and per share information): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2020 | | 2019 | | 2020 | | 2019 | Numerator | | | | | | | | | | | | | Net income attributable to RE/MAX Holdings, Inc. | | $ | 3,553 | | $ | 9,173 | | $ | 9,673 | | $ | 22,152 | Denominator for basic net income per share of Class A common stock | | | | | | | | | | | | | Weighted average shares of Class A common stock outstanding | | | 18,196,454 | | | 17,826,332 | | | 18,098,227 | | | 17,803,708 | Denominator for diluted net income per share of Class A common stock | | | | | | | | | | | | | Weighted average shares of Class A common stock outstanding | | | 18,196,454 | | | 17,826,332 | | | 18,098,227 | | | 17,803,708 | Add dilutive effect of the following: | | | | | | | | | | | | | Restricted stock | | | 171,597 | | | 13,826 | | | 84,629 | | | 27,234 | Weighted average shares of Class A common stock outstanding, diluted | | | 18,368,051 | | | 17,840,158 | | | 18,182,856 | | | 17,830,942 | Earnings per share of Class A common stock | | | | | | | | | | | | | Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, basic | | $ | 0.20 | | $ | 0.51 | | $ | 0.53 | | $ | 1.24 | Net income attributable to RE/MAX Holdings, Inc. per share of Class A common stock, diluted | | $ | 0.19 | | $ | 0.51 | | $ | 0.53 | | $ | 1.24 | | | | | | | | | | | | | |
Outstanding Class B common stock does not share in the earnings of Holdings and is therefore not a participating security. Accordingly, basic and diluted net income per share of Class B common stock has not been presented. Dividends Dividends declared and paid during each quarter ended per share on all outstanding shares of Class A common stock were as follows (in thousands, except per share information): | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | | | 2020 | | 2019 | Quarter end declared | | Date paid | | Per share | | Amount paid
to Class A
stockholders | | Amount paid
to non-controlling
unitholders | | Date paid | | Per share | | Amount paid
to Class A
stockholders | | Amount paid
to non-controlling
unitholders | March 31 | | March 18, 2020 | | $ | 0.22 | | $ | 3,986 | | $ | 2,763 | | March 20, 2019 | | $ | 0.21 | | $ | 3,740 | | $ | 2,638 | June 30 | | June 2, 2020 | | | 0.22 | | | 3,987 | | | 2,763 | | May 29, 2019 | | | 0.21 | | | 3,739 | | | 2,637 | September 30 | | September 2, 2020 | | | 0.22 | | | 3,988 | | | 2,763 | | August 28, 2019 | | | 0.21 | | | 3,745 | | | 2,638 | | | | | $ | 0.66 | | $ | 11,961 | | $ | 8,289 | | | | $ | 0.63 | | $ | 11,224 | | $ | 7,913 |
On November 4, 2020, the Company’s Board of Directors declared a quarterly dividend of $0.22 per share on all outstanding shares of Class A common stock, which is payable on December 2, 2020 to stockholders of record at the close of business on November 18, 2020.
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