MDU RESOURCES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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. Earnings per share
Note 7 -Earnings per share
Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed by dividing net income by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of non-vested performance share awards and restricted stock units. Common stock outstanding includes issued shares less shares held in treasury. Net income was the same for both the basic and diluted earnings per share calculations. A reconciliation of the weighted average common shares outstanding used in the basic and diluted earnings per share calculations follows:
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| (In thousands, except per share amounts) | ||
| Weighted average common shares outstanding - basic | 203,779 | 203,624 |
| Effect of dilutive performance share awards and restricted stock units | 408 | 286 |
| Weighted average common shares outstanding - diluted | 204,187 | 203,910 |
| Earnings per share - basic: | ||
| Income from continuing operations | $.50 | $.41 |
| Discontinued operations, net of tax | — | (.22) |
| Earnings per share - basic | $.50 | $.19 |
| Earnings per share - diluted: | ||
| Income from continuing operations | $.49 | $.41 |
| Discontinued operations, net of tax | — | (.22) |
| Earnings per share - diluted | $.49 | $.19 |
| Shares excluded from the calculation of diluted earnings per share | — | — |
| Dividends declared per common share | 0.1250 | $.2225 |
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