Dividends and earnings (loss) per share	6 Months Ended
Apr. 30, 2022
Earnings (Loss) per share:
Dividends and earnings (loss) per share	Note 3 – Dividends and earnings (loss) per share: The FREIT Board of Directors (“Board”) declared a dividend of $0.10 per share in the second quarter of Fiscal 2022 which will be paid on June 15, 2022 to stockholders of record on June 1, 2022. The Board will continue to evaluate the dividend on a quarterly basis. Basic earnings (loss) 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 14) 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 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’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 the six and three months ended April 30, 2022, the outstanding stock options increased the average dilutive shares outstanding by approximately 71,000 and 0 shares, respectively, with an impact of approximately $0.06 and $0.00, respectively, on earnings (loss) per share. For the six months ended April 30, 2021, the outstanding stock options were anti-dilutive with no impact on earnings per share. For the three months ended April 30, 2021, the outstanding stock options increased the average dilutive shares outstanding by approximately 2,000 shares with no impact on earnings per share. There were approximately 0 and 311,000 anti-dilutive shares for the six and three months ended April 30, 2022, respectively. There were approximately 311,000 and 268,000 anti-dilutive shares for the six and three months ended April 30, 2021, respectively. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan (See Note 13).

Dividends and earnings (loss) per share

6 Months Ended

Apr. 30, 2022

Note 3 – Dividends and earnings (loss) per share:

The FREIT Board of Directors (“Board”) declared a dividend of $0.10 per share in the second quarter of Fiscal 2022 which will be paid on June 15, 2022 to stockholders of record on June 1, 2022. The Board will continue to evaluate the dividend on a quarterly basis.

Basic earnings (loss) 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 14) 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 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’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 the six and three months ended April 30, 2022, the outstanding stock options increased the average dilutive shares outstanding by approximately 71,000 and 0 shares, respectively, with an impact of approximately $0.06 and $0.00, respectively, on earnings (loss) per share. For the six months ended April 30, 2021, the outstanding stock options were anti-dilutive with no impact on earnings per share. For the three months ended April 30, 2021, the outstanding stock options increased the average dilutive shares outstanding by approximately 2,000 shares with no impact on earnings per share. There were approximately 0 and 311,000 anti-dilutive shares for the six and three months ended April 30, 2022, respectively. There were approximately 311,000 and 268,000 anti-dilutive shares for the six and three months ended April 30, 2021, respectively. Anti-dilutive shares consist of out-of-the money stock options under the Equity Incentive Plan (See Note 13).