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Earnings / (Loss) per share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings / (Loss) per share

12. Earnings / (Loss) per share:

All common shares issued (including the restricted shares issued under the Company’s equity incentive plans) have equal rights to vote and participate in dividends. The restricted shares issued under the Company’s equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreement. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. For the purpose of calculating diluted earnings / (loss) per share, the weighted average number of diluted shares outstanding includes the incremental shares assumed issued, determined in accordance with the treasury stock method. For the years ended December 31, 2020, 2021 and 2022 the denominator of the diluted earnings per share calculation includes 153,216 common shares, 295,243 common shares and 383,711 common shares respectively, being the number of incremental shares assumed issued under the treasury stock method.

The Company calculates basic and diluted loss per share as follows:

Earnings/ (Loss) per Share (Table)


		Years ended December 31,
		2020		2021		2022
Income / (Loss) :
Net income / (loss)	$	9,660	$	680,530	$	565,999


Basic earnings / (loss) per share:
Weighted average common shares outstanding, basic		96,128,173		101,183,829		102,153,255
Basic earnings / (loss) per share	$	0.10	$	6.73	$	5.54

Effect of dilutive securities:
Dillutive effect of non vested shares		153,216		295,243		383,711
Weighted average common shares outstanding, diluted		96,281,389		101,479,072		102,536,966

Diluted earnings / (loss) per share	$	0.10	$	6.71	$	5.52