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Earnings Per Share
 9 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands):
 Three Months EndedNine Months Ended
 December 31, 2020December 31, 2019December 31, 2020December 31, 2019
Numerator for basic and diluted earnings per share:
Net income$6,594 $15,250 $(479)$50,428 
Denominators: 
Weighted-average common stock outstanding – denominator for basic EPS23,928 23,679 23,871 23,581 
Effect of dilutive employee stock options and other share-based awards273 352 — 344 
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS24,201 24,031 23,871 23,925 

Stock options, restricted stock units, and performance shares with respect to 244,000 and 1,063,000 common shares for the three and nine months ended December 31, 2020, respectively were not included in the computation of diluted income per share because they were antidilutive. The shares as of the nine months ended December 31, 2020 were antidilutive as a result of the Company's net loss. Stock options, restricted stock units, and performance shares with respect to 234,000 common shares for the three and nine months ended December 31, 2019 were not included in the computation of diluted loss per share because they were antidilutive. For the three and nine months ended December 31, 2020, 105,000 contingently issuable common shares were excluded because a performance condition had not yet been met.

The Company grants share based compensation to eligible participants under the 2016 Long Term Incentive Plan, as Amended and Restated in June 2019 ("2016 LTIP").  The total number of shares of common stock with respect to which awards may be granted under the 2016 LTIP were increased by 2,500,000 as a result of the June 2019 amendment. Shares not previously authorized for issuance under any of the prior stock plans and any shares not issued or subject to outstanding awards under the prior stock plans are still available for issuance.

During the first nine months of fiscal 2021, there were 90,000 shares of stock issued upon the exercising of stock options related to the Company’s stock option plans. During the fiscal year ended March 31, 2020, 106,792 shares of restricted stock units vested and were issued.

On January 18, 2021 the Company's Board of Directors declared a dividend of $0.06 per common share. The dividend will be paid on February 16, 2021 to shareholders of record on February 5, 2021. The dividend payment is expected to be approximately $1,440,000.
Refer to the Company’s consolidated financial statements included in its 2020 10-K for further information on its earnings per share and stock plans.