Equity and EPS

9 Months Ended

Sep. 30, 2020

The computations of basic and diluted EPS:


	Quarter Ended September 30,				Year to Date Ended September 30,
	2020		2019		2020		2019
Operations:
Net income(a)	$	10,381	$	8,215	$	28,713	$	25,846
Less: Income attributable to participating securities(b)	69		54		192		171
Net income attributable to common shareholders	$	10,312	$	8,161	$	28,521	$	25,675

Share information:


Basic and diluted weighted average common shares(c)	16,916,675		17,027,068		16,943,130		17,006,226

Basic and diluted EPS	$	0.61	$	0.48	$	1.68	$	1.51

(a)Net income attributable to all shareholders.

(b)Participating securities included 115,399 and 112,865 unvested restricted stock units (“RSUs”), at September 30, 2020 and 2019, respectively.

(c)Under the two-class method, basic and diluted weighted average common shares at September 30, 2020 and 2019, exclude unvested participating securities.

Share Repurchase. On February 25, 2019, MGP's Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019, through February 27, 2022. Under the share repurchase program, the Company can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by the Company at any time without prior notice. During year to date ended September 30, 2020, the Company repurchased approximately 159,104 shares of MGP Common Stock for $4,053, resulting in $20,947 remaining under the share repurchase plan. The shares were repurchased in multiple tranches with the final purchase concluding on March 16, 2020.