EARNINGS PER COMMON SHARE AND DIVIDEND PER SHARE (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of weighted average shares outstanding used to calculate basic and diluted earnings per common share

Weighted average shares outstanding used to calculate basic and diluted earnings per share are as follows:



	Three months ended September 30,		Nine months ended September 30,
	2019	2018	2019	2018
(number of common shares in millions)
Weighted average shares outstanding	2,018	1,705	2,017	1,695
Effect of dilutive options	2	3	3	4
Diluted weighted average shares outstanding	2,020	1,708	2,020	1,699

Schedule of preferred stock characteristics by class

On November 5, 2019, our Board of Directors declared the following quarterly dividends. All dividends are payable on December 1, 2019, to shareholders of record on November 15, 2019.



	Dividend per share
Common Shares		$0.73800
Preference Shares, Series A		$0.34375
Preference Shares, Series B		$0.21340
Preference Shares, Series C¹		$0.25243
Preference Shares, Series D		$0.27875
Preference Shares, Series F		$0.29306
Preference Shares, Series H		$0.27350
Preference Shares, Series J		US$0.30540
Preference Shares, Series L		US$0.30993
Preference Shares, Series N		$0.31788
Preference Shares, Series P²		$0.27369
Preference Shares, Series R³		$0.25456
Preference Shares, Series 1		US$0.37182
Preference Shares, Series 3⁴		$0.23356
Preference Shares, Series 5⁵		US$0.33596
Preference Shares, Series 7⁶		$0.27806
Preference Shares, Series 9		$0.27500
Preference Shares, Series 11		$0.27500
Preference Shares, Series 13		$0.27500
Preference Shares, Series 15		$0.27500
Preference Shares, Series 17		$0.32188
Preference Shares, Series 19		$0.30625

1 The quarterly dividend per share paid on Series C was decreased to $0.25395 from $0.25459 on March 1, 2019, was increased to $0.25647 from $0.25395 on June 1, 2019 and was decreased to $0.25243 from $0.25647 on September 1, 2019, due to reset on a quarterly basis following the date of issuance of the Series C Preference Shares.

2 The quarterly dividend per share paid on Series P was increased to $0.27369 from $0.25000 on March 1, 2019, due to reset of the annual dividend on March 1, 2019, and every five years thereafter.


3	The quarterly dividend per share paid on Series R was increased to $0.25456 from $0.25000 on June 1, 2019, due to the reset of the annual dividend on June 1, 2019, and every five years thereafter.


4	The quarterly dividend per share paid on Series 3 was decreased to $0.23356 from $0.25000 on September 1, 2019, due to the reset of the annual dividend on September 1, 2019, and every five year thereafter.


5	The quarterly dividend per share paid on Series 5 was increased to US$0.33596 from US$0.27500 on March 1, 2019, due to reset of the annual dividend on March 1, 2019, and every five years thereafter.

The quarterly dividend per share paid on Series 7 was increased to $0.27806 from $0.27500 on March 1, 2019, due to reset of the annual dividend on March 1, 2019, and every five years thereafter.