XML 39 R14.htm IDEA: XBRL DOCUMENT v3.24.3
Per Share Amounts
9 Months Ended
Sep. 30, 2024
Earnings per share [abstract]  
Per Share Amounts
8. PER SHARE AMOUNTS
A) Net Earnings (Loss) Per Common Share – Basic and Diluted
Three Months Ended
Nine Months Ended
For periods ended September 30,
2024202320242023
Net Earnings (Loss)8201,8642,9963,366
Effect of Cumulative Dividends on Preferred Shares(9)(9)(27)(27)
Net Earnings (Loss) – Basic8111,8552,9693,339
Effect of Stock-Based Compensation(31)6(1)
Net Earnings (Loss) – Diluted7801,8552,9753,338
Basic – Weighted Average Number of Shares (thousands)
1,848,0351,891,9371,858,3641,900,952
Dilutive Effect of Warrants3,7296,4085,03927,491
Dilutive Effect of Stock-Based Compensation11,5486,7529,2218,273
Diluted – Weighted Average Number of Shares (thousands)
1,863,3121,905,0971,872,6241,936,716
Net Earnings (Loss) Per Common Share – Basic ($)
0.440.981.601.76
Net Earnings (Loss) Per Common Share – Diluted (1) ($)
0.420.971.591.72
(1)For the three months ended September 30, 2024, net earnings of $nil (2023 – $115 million) and 3.0 million common shares (2023 – 22.8 million), related to the assumed exercise of stock-based compensation were excluded from the calculation of dilutive net earnings (loss) per share as the effect was anti-dilutive. For the nine months ended September 30, 2024, net earnings of $20 million (2023 – $107 million) and 11.5 million common shares (2023 – 21.6 million), related to the assumed exercise of stock-based compensation were excluded from the calculation of dilutive net earnings (loss) per share as the effect was anti-dilutive.
B) Common Share Dividends
20242023
For the nine months ended September 30,
Per ShareAmountPer ShareAmount
Base Dividends 0.5009250.385729
Variable Dividends 0.135251
Total Common Share Dividends Declared and Paid0.6351,1760.385729
The declaration of common share dividends is at the sole discretion of the Company’s Board of Directors and is considered quarterly.
On October 30, 2024, the Company’s Board of Directors declared a fourth quarter base dividend of $0.180 per common share, payable on December 31, 2024, to common shareholders of record as at December 13, 2024.
C) Preferred Share Dividends
For the nine months ended September 30,
20242023
Series 1 First Preferred Shares55
Series 2 First Preferred Shares22
Series 3 First Preferred Shares99
Series 5 First Preferred Shares77
Series 7 First Preferred Shares44
Total Preferred Share Dividends Declared2727
The declaration of preferred share dividends is at the sole discretion of the Company’s Board of Directors and is considered quarterly.
In the nine months ended September 30, 2024, the Company paid preferred share dividends of $27 million (2023 – $27 million). On October 1, 2024, the Company paid preferred share dividends of $9 million, as declared on July 31, 2024.
On October 30, 2024, the Company’s Board of Directors declared fourth quarter dividends of $9 million payable on December 31, 2024, to preferred shareholders of record as at December 13, 2024.