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Earnings per Share
 9 Months Ended
May 31, 2020
Earnings per Share  
Earnings per Share

Note 4.    Earnings per Share

The following is a reconciliation of the numerators and denominators of the basic and diluted computations for earnings per common share (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

May 31, 

 

May 31, 

(In thousands, except share and per share amounts)

2020

    

2019

    

2020

    

2019

 

 

 

 

 

 

 

 

 

 

 

 

EPS:

 

  

 

 

  

 

 

  

 

 

  

Net income

$

1,755

 

$

2,944

 

$

6,270

 

$

6,830

Less:  accrued preferred stock dividends

 

(19)

 

 

(19)

 

 

(57)

 

 

(57)

Net income available for common shareholders

$

1,736

 

$

2,925

 

$

6,213

 

$

6,773

 

 

 

 

 

  

 

 

  

 

 

  

Earnings per common share  – basic and diluted

$

0.36

 

$

0.60

 

$

1.28

 

$

1.39

 

For the three and nine months ended May 31, 2020 and 2019, 40,000 potential common shares (issuable upon conversion of 36,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock) have been included in the computation of diluted earnings per share, which had no effect on basic earnings per share.