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Earnings Per Share | 9 Months Ended
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Nov. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | 13. Earnings Per Share Basic earnings per share have been computed by dividing net earnings by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share reflect the potential dilution that could occur if stock options or other contracts to issue common shares were exercised or converted into common stock. As of November 30, 2019, no options were outstanding. For the three and nine months ended November 30, 2018, all options were included in the diluted earnings per share computation because the average fair market value of the Company’s stock exceeded the exercise price of the options. The following table sets forth the computation for basic and diluted earnings (loss) per share for the periods indicated:
|  | Three months ended |  |  | Nine months ended |
|  | November 30, |  |  | November 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Basic weighted average common shares outstanding |  |  | 26,010,571 |  |  |  | 26,189,917 |  |  |  | 26,034,617 |  |  |  | 25,744,344 |
Effect of dilutive options |  |  | — |  |  |  | 12,513 |  |  |  | — |  |  |  | 12,487 |
Diluted weighted average common shares outstanding |  |  | 26,010,571 |  |  |  | 26,202,430 |  |  |  | 26,034,617 |  |  |  | 25,756,831 |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings - basic |  | $ | 0.41 |  |  | $ | 0.40 |  |  | $ | 1.14 |  |  | $ | 1.14 |
Net earnings - diluted |  | $ | 0.41 |  |  | $ | 0.40 |  |  | $ | 1.14 |  |  | $ | 1.14 |
Cash dividends |  | $ | 0.225 |  |  | $ | 0.225 |  |  | $ | 0.675 |  |  | $ | 0.650 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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