Dividends and earnings per share	12 Months Ended
Oct. 31, 2021
Earnings Per Share [Abstract]
Dividends and earnings per share	Note 12 - Dividends and earnings per share: FREIT Maryland declared dividends of approximately $1,755,000 ($0.25 per share), $0 and $4,173,000 ($0.60 per share), respectively, to stockholders of record during Fiscal 2021, 2020 and 2019. Basic earnings per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares and vested share units (See Note 11) outstanding during each period (denominator). The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator 88 Table of Contents is increased to include the number of additional shares that would have been outstanding if all potentially dilutive shares, such as those issuable upon the exercise of stock options, were issued during the period using the Treasury Stock method. Under the Treasury Stock method, the assumption is that the proceeds received upon exercise of the options, including the unrecognized stock option compensation expense attributable to future services, are used to repurchase FREIT Maryland’s stock at the average market price during the period, thereby increasing the number of shares to be added in computing diluted earnings per share. For Fiscal 2021 and 2020, the outstanding stock options increased the average dilutive shares outstanding by approximately 3,000 and 1,500 shares, respectively, with no impact on earnings per share. For Fiscal 2019, the outstanding stock options were anti-dilutive with no impact on diluted earnings per share. There were approximately 268,000, 268,000 and 306,000, respectively, anti-dilutive shares for the years ended October 31, 2021, 2020 and 2019. Anti-dilutive shares consist of out-of-the money stock options under the Plan.

Dividends and earnings per share

12 Months Ended

Oct. 31, 2021

Note 12 - Dividends and earnings per share:

FREIT Maryland declared dividends of approximately $1,755,000 ($0.25 per share), $0 and $4,173,000 ($0.60 per share), respectively, to stockholders of record during Fiscal 2021, 2020 and 2019.

Basic earnings per share is calculated by dividing net income attributable to common equity (numerator) by the weighted average number of shares and vested share units (See Note 11) outstanding during each period (denominator). The calculation of diluted earnings per share is similar to that of basic earnings per share, except that the denominator

Table of Contents

is increased to include the number of additional shares that would have been outstanding if all potentially dilutive shares, such as those issuable upon the exercise of stock options, were issued during the period using the Treasury Stock method. Under the Treasury Stock method, the assumption is that the proceeds received upon exercise of the options, including the unrecognized stock option compensation expense attributable to future services, are used to repurchase FREIT Maryland’s stock at the average market price during the period, thereby increasing the number of shares to be added in computing diluted earnings per share.

For Fiscal 2021 and 2020, the outstanding stock options increased the average dilutive shares outstanding by approximately 3,000 and 1,500 shares, respectively, with no impact on earnings per share. For Fiscal 2019, the outstanding stock options were anti-dilutive with no impact on diluted earnings per share.

There were approximately 268,000, 268,000 and 306,000, respectively, anti-dilutive shares for the years ended October 31, 2021, 2020 and 2019. Anti-dilutive shares consist of out-of-the money stock options under the Plan.