Earnings Per Share and Dividends

9 Months Ended

Sep. 30, 2020

Earnings Per Share and Dividends

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.