COMMUNITY BANCORP VT
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
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EX-13 · Earnings per common share
Earnings per common share
Earnings per common share amounts are computed based on net income, net of dividends to preferred shareholders, and on the weighted average number of shares of common stock issued during the period, including DRIP shares issuable upon reinvestment of dividends (retroactively adjusted for stock splits and stock dividends, if any) and reduced for shares held in treasury.
The following table illustrates the calculation of earnings per common share for the periods presented, as adjusted for the cash dividends declared on the preferred stock:
| Years Ended December 31, | 2023 | 2022 |
|---|---|---|
| Net income, as reported | $13,431,855 | $13,739,940 |
| Less: dividends to preferred shareholders | 120,938 | 66,563 |
| Net income available to common shareholders | $13,310,917 | $13,673,377 |
| Weighted average number of common shares used in calculating earnings per share | 5,471,457 | 5,403,938 |
| Earnings per common share | $2.43 | $2.53 |
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