Per Share Amounts

12 Months Ended

Dec. 31, 2018

13. PER SHARE AMOUNTS

A) Net Earnings (Loss) Per Share — Basic and Diluted

For the years ended December 31,	2018		2017	2016
Earnings (Loss) From:
Continuing Operations	(2,916	)	2,268	(459	)
Discontinued Operations	247		1,098	(86	)
Net Earnings (Loss)	(2,669	)	3,366	(545	)

Basic - Weighted Average Number of Shares (millions)	1,228.8		1,102.5	833.3
Dilutive Effect of Cenovus NSRs	0.4		-	-
Diluted - Weighted Average Number of Shares	1,229.2		1,102.5	833.3

Basic and Diluted Earnings (Loss) Per Share From: ($)
Continuing Operations	(2.37	)	2.06	(0.55	)
Discontinued Operations	0.20		0.99	(0.10	)
Net Earnings (Loss) Per Share	(2.17	)	3.05	(0.65	)

As at December 31, 2018, 34 million NSRs (2017 – 43 million; 2016 – 42 million) and no TSARs (2017 – 81 thousand; 2016 – 3 million) were excluded from the diluted weighted average number of shares as their effect would have been anti-dilutive or their exercise prices exceed the market price of Cenovus’s common shares. These instruments could potentially dilute earnings per share in the future. For further information on the Company’s stock-based compensation plans, see Note 30.

B) Dividends Per Share

For the year ended December 31, 2018, the Company paid cash dividends of $245 million or $0.20 per share, all of which were paid in cash (2017 – $225 million or $0.20 per share; 2016 – $166 million or $0.20 per share). The Cenovus Board of Directors declared a first quarter dividend of $0.05 per share, payable on March 29, 2019, to common shareholders of record as of March 15, 2019.