Note 16—Dividends and Earnings Per Share

The Company has paid or declared cash dividends during 2015 as follows:

On November 4, 2014, the Company declared a cash dividend of $0.04 per common share, payable to stockholders of record on December 31, 2014. The dividend, totaling $2,062, was paid on January 15, 2015.

On February 24, 2015, the Company declared a cash dividend of $0.04 per common share, payable to stockholders of record on March 31, 2015. The dividend, totaling $2,063, was paid on April 15, 2015.

On May 1, 2015, the Company declared a cash dividend of $0.055 per common share, payable to stockholders of record on June 30, 2015. The dividend, totaling $2,841, was paid on July 15, 2015.

On August 4, 2015, the Company declared a cash dividend of $0.055 per common share, payable to stockholders of record on September 30, 2015. The dividend, totaling $2,842, was paid on October 15, 2015.

The table below presents the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014:

	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Numerator:
Net income attributable to Primoris	$	19,007	$	27,390	$	24,317	$	54,226

Denominator (shares in thousands):
Weighted average shares for computation of basic earnings per share	51,672		51,606		51,637		51,622
Dilutive effect of shares issued to independent directors	3		4		3		3
Dilutive effect of unvested restricted stock units (1)	149		149		149		134

Weighted average shares for computation of diluted earnings per share	51,824		51,759		51,789		51,759


Earnings per share:
Basic earnings per share	$	0.37	$	0.53	$	0.47	$	1.05
Diluted earnings per share	$	0.37	$	0.53	$	0.47	$	1.05

(1) Represents the dilutive effect of a grant of 148,512 shares of Units and 535 vested Dividend Equivalent Units.