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Shareholders' equity
6 Months Ended
Jun. 30, 2021
Shareholders' equity  
Shareholders' equity

Note 16 – Shareholders’ equity

(a)Share capital

The Company’s authorized capital stock includes an unlimited number of common shares (191,105,644 common shares issued and outstanding as at June 30, 2021) having no par value and preferred shares issuable in series (issued - nil).

Changes in share capital in the six months ended June 30, 2021 and year ended December 31, 2020 were as follows:

Number

  

  

of shares

  

  

Amount

 

Balance at January 1, 2020

 

189,381,388

$

5,390.7

At-the-market equity offering

1,054,800

133.7

Exercise of stock options

150,482

9.7

Vesting of restricted share units

42,328

3.7

Dividend reinvestment plan

327,478

42.3

Balance at December 31, 2020

190,956,476

$

5,580.1

Exercise of stock options

4,000

0.4

Dividend reinvestment plan

145,168

$

19.5

Balance at June 30, 2021

191,105,644

$

5,600.0

(b)At-the-Market Equity Program

On May 11, 2020, the Company established a new at-the-market equity program (the “ATM Program”) permitting the Company to issue up to an aggregate of $300 million worth of common shares from treasury at prevailing market prices to the public through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace on which the common shares are listed, quoted or otherwise trade.

During the six months ended June 30, 2021, the Company did not issue any common shares under the ATM Program.

(c)Dividends

In Q2/2021 and H1/2021, the Company declared dividends of $0.30 and $0.56 per common share, respectively (Q2/2020 and H1/2020 - $0.26 and $0.51 per common share, respectively).

Dividends paid in cash and through the Company’s Dividend Reinvestment Plan (“DRIP”) were as follows:

For the three months ended

For the six months ended

  

June 30, 

June 30, 

  

    

2021

    

2020

  

  

2021

  

  

2020

  

Cash dividends

$

45.2

$

39.8

$

87.0

$

76.0

DRIP dividends

 

11.4

 

10.1

 

19.5

 

21.0

$

56.6

$

49.9

$

106.5

$

97.0