COMMON EQUITY

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2018 and 2017 .



	Three Months Ended March 31,
(in millions, except per share data)	2018		2017
Basic earnings per common share:
Net income available to common shareholders	$	47.6	$	22.6
Weighted average common shares issued and outstanding	176.9		156.4
Basic earnings per common share	$	0.27	$	0.14
Diluted earnings per common share:
Net income applicable to diluted earnings per common share	$	47.6	$	22.6
Dilutive potential common shares:
Restricted share units	0.3		0.4
Dilutive potential common shares	0.3		0.4
Total diluted average common shares issued and outstanding	177.2		156.8
Diluted earnings per common share	$	0.27	$	0.14

The calculation of diluted earnings per share for the three months ended March 31, 2018 excluded an immaterial amount of share-based compensation awards that had an anti-dilutive effect.

Subsequent Event - Dividends Declared

In April 2018, our Board of Directors declared a quarterly cash dividend for the second fiscal quarter of 2018 in the amount of $0.06 per share to holders of our Class A and Class B common stock. The dividend is payable to shareholders of record at the close of business on June 15, 2018, and is expected to be paid on July 9, 2018.