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Earnings per Share
 6 Months Ended
Jun. 30, 2023
Earnings per Share  
Earnings per Share
10.
 
Earnings per Share
All common
 
shares issued
 
(including the
 
restricted shares
 
issued under
 
the Company’s
 
incentive plans)
are
 
the
 
Company’s
 
common
 
stock
 
and
 
have
 
equal
 
rights
 
to
 
vote
 
and
 
participate
 
in
 
dividends.
 
The
calculation of basic earnings per share does not treat the non-vested shares (not considered participating
securities) as
 
outstanding until the
 
time/service-based vesting restriction
 
has lapsed.
 
Incremental shares
are the number
 
of shares assumed
 
issued under the
 
treasury stock method
 
weighted for the
 
periods the
non-vested shares
 
were outstanding.
 
During the six
 
months ended
 
June 30,
 
2023 and
 
2022, there were
1,272,798
 
and
2,964,828
 
incremental
 
shares,
 
respectively,
 
included
 
in
 
the
 
denominator
 
of
 
the
 
diluted
earnings per share calculation.
 
Profit attributable to common equity holders is adjusted by the amount of dividends on Series B Preferred
Stock as follows:
For the six months ended June 30,
2023
2022
Net income
$
33,077
$
61,649
Dividends on series B preferred shares
(2,884)
(2,884)
Net income attributable to common stockholders
$
30,193
$
58,765
Weighted average number of common shares, basic
98,489,613
77,343,851
Incremental shares
 
1,272,798
2,964,828
Weighted average number of common shares, diluted
 
99,762,411
80,308,679
Earnings/(loss) per share, basic
$
0.31
$
0.76
Earnings/(loss) per share, diluted
$
0.30
$
0.73