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Earnings per Common Share
 9 Months Ended
Dec. 23, 2023
Earnings per Common Share [Abstract]  
Earnings per Common Share Note 3 – Earnings per Common Share

Basic earnings per common share amounts are calculated by dividing income available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.

Earnings per Common Share

Three Months Ended

Nine Months Ended

(thousands, except per share data)

December 23, 2023

December 24, 2022

December 23, 2023

December 24, 2022

Numerator for earnings per common share calculation:

Net income

$

12,170 

$

13,034 

$

33,871 

$

38,639 

Less: Preferred stock dividends

(337)

(129)

(804)

(386)

Income available to common shareholders

$

11,833 

$

12,905 

$

33,067 

$

38,253 

Denominator for earnings per common share calculation:

Weighted average common shares - basic

30,934 

31,470 

31,263 

32,386 

Effect of dilutive securities:

Preferred stock

1,205 

460 

815 

460 

Restricted stock

49 

55 

64 

44 

Weighted average common shares - diluted

32,188 

31,985 

32,142 

32,890 

Basic earnings per common share

$

0.38 

$

0.41 

$

1.06 

$

1.18 

Diluted earnings per common share

$

0.38 

$

0.41 

$

1.05 

$

1.17 

Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.