Dividends and Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2017

Dividend and dividend equivalent information for year to date periods ended September 30, 2017 and 2016 is detailed below:



Dividend and Dividend Equivalent Information (per Share and Unit)
Declaration date	Payment date	Declared		Paid		Total payment
2017
February 15, 2017	March 24, 2017	$	0.04	$	0.04	$	688
May 2, 2017	June 9, 2017	0.04		0.04		688
August 1, 2017	September 8, 2017	0.85		0.85		14,628		^(a)
August 1, 2017	September 11, 2017	0.04		0.04		688
		$	0.97	$	0.97	$	16,692
2016
March 7, 2016	April 14, 2016	$	0.08	$	0.08	$	1,378
August 1, 2016	September 8, 2016	0.02		0.02		344
		$	0.10	$	0.10	$	1,722

^(a)

On August 1, 2017, the Company's board of directors declared a special dividend of $0.85 per share of common stock payable on September 8, 2017 to stockholders of record as of August 18, 2017. On June 27, 2017, the Company announced that it had entered into a merger agreement with an affiliate of SEACOR Holdings, Inc. and Pacific Ethanol Central, LLC that would result in a sale of its 30 percent equity ownership interest in ICP to Pacific Ethanol. The Company said at that time that it expected the board to approve a special dividend on completion of the transaction. The transaction was completed on July 3, 2017.

Schedule of Earnings Per Share, Basic and Diluted

The computations of basic and diluted earnings per share for the quarter and year to date periods ended September 30, 2017 and 2016 are as follows:



	Quarter Ended				Year to Date Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Operations:
Net income^(a)	$	14,137	$	9,532	$	29,184	22,899
Income attributable to participating securities^(b)	414		294		806		711
Net income attributable to common shareholders	$	13,723	9,238		$	28,378	22,188

Share information:
Basic and diluted weighted average common shares^(c)	16,751,346		16,653,717		16,735,378		16,626,024

Basic and diluted earnings per share	$	0.82	$	0.55	$	1.70	$	1.33


^(a)	Net income attributable to all shareholders.


^(b)	At September 30, 2017 and 2016, participating securities included 485,491 and 525,986 nonvested restricted stock units, respectively.


^(c)	Under the two-class method, weighted average common shares at September 30, 2017 and 2016, exclude nonvested, participating securities of 485,491 and 525,986, respectively.