| Earnings per share The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share data).
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| | Three Months Ended | | Six Months Ended | | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Numerator: | | | | | | | | | | Net Income/(Loss) | | $ | 14,269 | | | $ | 3,945 | | | $ | 10,707 | | | $ | 15,422 | | | Dividends on preferred stock | | 5,177 | | | 5,321 | | | 10,330 | | | 10,625 | | | Net Income/(Loss) Available to Common Stockholders | | $ | 9,092 | | | $ | (1,376) | | | $ | 377 | | | $ | 4,797 | | | | | | | | | | | | Denominator: | | | | | | | | | | Basic weighted average common shares outstanding | | 31,786 | | | 29,686 | | | 31,762 | | | 29,672 | | | Dilutive effect of restricted stock units (1) | | 17 | | | — | | | 17 | | | 25 | | | Diluted weighted average common shares outstanding | | 31,803 | | | 29,686 | | | 31,779 | | | 29,697 | | | | | | | | | | | | Earnings/(Loss) Per Share | | | | | | | | | | Basic | | $ | 0.29 | | | $ | (0.05) | | | $ | 0.01 | | | $ | 0.16 | | | Diluted | | $ | 0.29 | | | $ | (0.05) | | | $ | 0.01 | | | $ | 0.16 | |
(1)Restricted stock units issued to certain directors of 20 thousand were excluded from the computation of diluted earnings per share because its effect would be anti-dilutive for the three months ended June 30, 2025.
Dividends
The following tables detail the Company's common stock dividends declared during the six months ended June 30, 2026 and 2025. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | Six Months Ended June 30, 2025 | | Declaration Date | | Record Date | | Payment Date | | Cash Dividend Per Share | | Declaration Date | | Record Date | | Payment Date | | Cash Dividend Per Share | | 3/16/2026 | | 3/31/2026 | | 4/30/2026 | | $ | 0.24 | | | 3/17/2025 | | 3/31/2025 | | 4/30/2025 | | $ | 0.20 | | | 6/16/2026 | | 6/30/2026 | | 7/31/2026 | | 0.24 | | | 6/17/2025 | | 6/30/2025 | | 7/31/2025 | | 0.21 | | | | | | | | | | | | | | | | | | Total | | | | | | $ | 0.48 | | | Total | | | | | | $ | 0.41 | |
The following tables detail the Company's preferred stock dividends declared and paid during the six months ended June 30, 2026 and 2025.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | | | | | Cash Dividend Per Share | | | Declaration Date | | Record Date | | Payment Date | | 8.25% Series A | | 8.00% Series B | | 8.000% Series C | | | 2/13/2026 | | 2/27/2026 | | 3/17/2026 | | $ | 0.51563 | | | $ | 0.50 | | | $ | 0.652391 | | | | 4/27/2026 | | 5/29/2026 | | 6/17/2026 | | 0.51563 | | | 0.50 | | | 0.665952 | | | | | | | | | | | | | | | | | Total | | | | | | $ | 1.03126 | | | $ | 1.00 | | | $ | 1.318343 | | | | | | | | | | | | | | | | | 2025 | | | | | | Cash Dividend Per Share | | | Declaration Date | | Record Date | | Payment Date | | 8.25% Series A | | 8.00% Series B | | 8.000% Series C | | | 2/14/2025 | | 2/28/2025 | | 3/17/2025 | | $ | 0.51563 | | | $ | 0.50 | | | $ | 0.693062 | | | | 5/5/2025 | | 5/30/2025 | | 6/17/2025 | | 0.51563 | | | 0.50 | | | 0.704864 | | | | | | | | | | | | | | | | Total | | | | | | $ | 1.03126 | | | $ | 1.00 | | | $ | 1.397926 | |
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