Earnings per Share

3 Months Ended

Nov. 30, 2020

Earnings per Share

Earnings per Share

Note 5.    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
	November 30,
(In thousands, except share and per share amounts)	2020		2019
EPS:
Net income	$	851	$	1,917
Less:  accrued preferred stock dividends		(19)		(19)
Net income available for common shareholders	$	832	$	1,898
Earnings per common share  – basic and diluted	$	0.17	$	0.39

For the three months ended November 30, 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.