The Company presents net income/(loss) attributable to Movado Group, Inc. after adjusting for noncontrolling interests, as applicable, per share on a basic and diluted basis. Basic earnings per share is computed using weighted-average shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of shares outstanding adjusted for dilutive common stock equivalents.

The number of shares used in calculating basic and diluted earnings (loss) per share is as follows (in thousands):

	Three Months Ended April 30,
	2020		2019
Weighted average common shares outstanding:
Basic		23,141		23,119
Effect of dilutive securities:
Stock awards and options to purchase shares of common stock		—		333
Diluted		23,141		23,452

For the three months ended April 30, 2020 and 2019, approximately 891,000 and 78,000, respectively, of potentially dilutive common stock equivalents were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the three months ended April 30, 2020, the Company also had approximately 120,000 stock options outstanding that could potentially dilute earnings per share in future periods that were excluded from the computation of diluted EPS because their effect would have been anti-dilutive given the net loss during the period.

During the first quarter of fiscal 2021 the Company did not declare quarterly cash dividends. During the first quarter of fiscal 2020, on March 28, 2019, the Company declared a quarterly cash dividend of $0.20 per share payable on April 24, 2019, to shareholders of record on April 10, 2019. The total dividend of $4.6 million was paid on April 24, 2019.