Annual report pursuant to Section 13 and 15(d)

Dividends and Earnings (Loss) Per Share

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Dividends and Earnings (Loss) Per Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Dividends and Earnings (Loss) Per Share Dividends and Earnings (Loss) Per Share
Dividends

On July 16, 2018, the Company initiated a quarterly dividend policy. As a result of oilfield market conditions and other factors, which include collections from PREPA, the Company’s Board of Directors suspended the quarterly cash dividend in the third quarter of 2019. The table below summarizes the dividends paid on the Company’s common stock.
Per Share Total
(in thousands)
2019
Paid on February 14, 2019 $ 0.125  $ 5,609 
Paid on May 17, 2019 0.125  5,610 
Total cash dividends $ 0.25  $ 11,219 

Earnings (Loss) Per Share
Year Ended December 31,
2021 2020 2019
(in thousands, except per share data)
Basic loss per share:
Allocation of earnings:
Net loss $ (101,430) $ (107,607) $ (79,044)
Weighted average common shares outstanding 46,428  45,644  45,011 
Basic loss per share $ (2.18) $ (2.36) $ (1.76)
Diluted loss per share:
Allocation of earnings:
Net loss $ (101,430) $ (107,607) $ (79,044)
Weighted average common shares, including dilutive effect (a)
46,428  45,644  45,011 
Diluted loss per share $ (2.18) $ (2.36) $ (1.76)
a.    No incremental shares of potentially dilutive restricted stock awards were included for the years ended December 31, 2021, 2020, or 2019 as their effect was antidilutive under the treasury stock method.