XML 41 R25.htm IDEA: XBRL DOCUMENT v3.22.0.1
Note 17 - Earnings Per Common Share
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

17. Earnings Per Common Share:

 

The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation (Dollar amounts in thousands of US dollars, except for share data):

 

  

Year ended December 31,

 
  

2021

  

2020

  

2019

 
             

Numerator for basic and diluted earnings per common share:

            

Net income for the period

 $3,364  $5,775  $15,398 
             

Denominator for basic and diluted earnings per common share:

            

Basic weighted average number of common shares outstanding

  10,662,337   10,590,684   10,623,799 

Effect of outstanding stock options

  155,132   101,597   149,013 

Diluted weighted average number of shares outstanding

  10,817,468   10,692,281   10,772,812 
             

Basic earnings per common share

 $0.32  $0.55  $1.45 
             

Diluted earnings per common share

 $0.31  $0.54  $1.43 

 

Options to purchase 39,889 common shares were outstanding during 2021 (2020: 83,177; 2019: 547,372) but were not included in the computation of diluted income per common share because the options’ exercise price was greater than the average market price of the common shares for the year.