Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2019

The following tables summarize information about the stock options outstanding and exercisable at the dates indicated:

	2019					2018
(000s)	Number of Options			Weighted-Average Exercise Price ($C)		Number of Options			Weighted-Average Exercise Price ($C)
Options outstanding, beginning of year		4,876			3.60		4,959			5.10
Granted		976			2.83		1,071			2.62
Exercised		(337	)		2.18		-			-
Expired		(1,034	)		6.55		(1,154	)		9.13
Options outstanding, end of year		4,481			2.86		4,876			3.60
Options exercisable, end of year		2,585			3.01		2,766			4.52

	Options Outstanding						Options Exercisable
Exercise Price (C$)	Number Outstanding at December 31, 2019 (000s)		Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise price (C$)		Number Exercisable at December 31, 2019 (000s)		Weighted-Average Remaining Contractual Life (Years)		Weighted-Average Exercise price (C$)
2.16 - 2.17		826		2.4		2.16		550		2.4		2.16
2.18 - 2.41		1,002		1.2		2.19		1,002		1.2		2.19
2.42 - 3.73		966		3.4		2.62		322		3.4		2.62
3.74 - 3.91		976		4.2		2.83		-		-		-
3.92 - 4.99		711		0.4		4.99		711		0.4		4.99
		4,481		2.4		2.86		2,585		1.5		3.01

The weighted average fair value of options granted during the period and the assumptions used in their determination are noted below:

	2019			2018
Weighted average fair market value per option (C$)		0.88			0.88
Risk free interest rate		1.54	%		2.14	%
Expected volatility (based on actual historical volatility)		54.74	%		49.45	%
Dividend rate		3.30	%		-
Expected forfeiture rate (non-executive employees)		-			-
Suboptimal exercise factor		1.25			1.25

The number of RSUs, PSUs and DSUs outstanding as at December 31, 2019 are as follows: