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Share Capital and Warrants (Tables)
 9 Months Ended
Sep. 30, 2024
Disclosure of classes of share capital [abstract]  
Summary of Share Capital
B) Issued and Outstanding – Common Shares
September 30, 2024December 31, 2023
Number of
Common
Shares
(thousands)
Amount
Number of
Common
Shares
(thousands)
Amount
Outstanding, Beginning of Year1,871,86816,0311,909,19016,320
Issued Upon Exercise of Warrants3,820382,61026
Issued Under Stock Option Plans5,017673,67958
Purchase of Common Shares Under NCIB(51,235)(439)(43,611)(373)
Outstanding, End of Period1,829,47015,6971,871,86816,031
As at September 30, 2024, there were 48.7 million (December 31, 2023 – 45.5 million) common shares available for future issuance under the stock option plan.
D) Issued and Outstanding – Preferred Shares
For the nine months ended September 30, 2024, there were no preferred shares issued. As at September 30, 2024, there were 36 million preferred shares outstanding (December 31, 2023 – 36 million), with a carrying value of $519 million (December 31, 2023 – $519 million).
As at September 30, 2024
Dividend Reset Date
Dividend Rate (percent)
Number of Preferred Shares (thousands)
Series 1 First Preferred SharesMarch 31, 20262.58 10,740
Series 2 First Preferred Shares (1)
Quarterly5.94 1,260
Series 3 First Preferred SharesDecember 31, 20244.69 10,000
Series 5 First Preferred SharesMarch 31, 20254.59 8,000
Series 7 First Preferred SharesJune 30, 20253.94 6,000
(1) The floating-rate dividend was 6.77 percent from December 31, 2023, to March 30, 2024, 6.71 percent for the period from March 31, 2024, to June 29, 2024, and 6.60 percent from June 30, 2024 to September 29, 2024.
) Issued and Outstanding – Warrants
September 30, 2024December 31, 2023
Number of
Warrants
(thousands)
Amount
Number of
Warrants
(thousands)
Amount
Outstanding, Beginning of Year7,6252555,720184
Exercised(3,820)(13)(2,610)(8)
Purchased and Cancelled——(45,485)(151)
Outstanding, End of Period3,805127,62525