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Earnings per Share
 9 Months Ended
May 31, 2021
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

 

Nine Months Ended

 

 

May 31, 

 

May 31, 

 

May 31, 

 

May 31, 

(In thousands, except share and per share amounts)

    

2021

    

2020

    

2021

    

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

EPS:

 

 

  

 

 

  

 

 

  

 

 

  

Net income

 

$

3,080

 

$

1,755

 

$

5,325

 

$

6,270

Less:  accrued preferred stock dividends

 

 

(19)

 

 

(19)

 

 

(57)

 

 

(57)

Net income available for common shareholders

 

$

3,061

 

$

1,736

 

$

5,268

 

$

6,213

 

 

 

 

 

 

 

 

 

  

 

 

  

Earnings per common share  – basic and diluted

 

$

0.63

 

$

0.36

 

$

1.08

 

$

1.28

 

For the three and nine months ended May 31, 2021 and 2020, 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.