Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.1
Earnings Per Share
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

8. EARNINGS PER SHARE

Basic earnings per share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to potentially diluted securities. The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year Ended

 

 

For the Year Ended

 

 

 

December 31, 2018

 

 

December 31, 2017

 

Net income (loss)

 

$

619,448

 

 

$

(146,290

)

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

Average number of common shares outstanding - basic

 

 

7,622,287

 

 

 

7,619,469

 

Net effect of dilutive unvested restricted stock awards included for treasury stock method

 

 

1,835

 

 

 

Average number of common shares outstanding - diluted

 

 

7,624,122

 

 

 

7,619,469

 

Earnings per common share

 

 

 

 

 

 

 

 

Basic

 

$

0.08

 

 

$

(0.02

)

Diluted

 

$

0.08

 

 

$

(0.02

)

 

Common stock dividends paid in cash totaled $1,995,327 ($0.26 per share) and $1,981,062 ($0.26 per share) for the years ended December 31, 2018 and 2017, respectively.