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Shareholders' Equity

6 Months Ended

Jun. 30, 2023

Note 16 - Shareholders’ Equity

(a)	Share Capital

The Company’s authorized capital stock includes an unlimited number of common shares (192,055,603 common shares issued and outstanding as at June 30, 2023) having no par value and preferred shares issuable in series (issued - nil).

Changes in share capital for the periods ended June 30, 2023 and December 31, 2022 were as follows:


	Number
	of shares		Amount
Balance at January 1, 2022	191,334,392	$	5,628.5
Exercise of stock options	148,295		12.2
Vesting of restricted share units	49,919		6.4
Dividend reinvestment plan	360,085		48.2
Balance at December 31, 2022	191,892,691	$	5,695.3

Balance at January 1, 2023	191,892,691	$	5,695.3
Exercise of stock options	61,000		3.8
Dividend reinvestment plan	101,912		14.5
Balance at June 30, 2023	192,055,603	$	5,713.6

(b)	Dividends

For the three months ended June 30, 2023, the Company declared dividends of $0.34 per common share (Q2 2022 – $0.32). For the six months ended June 30, 2023, the Company declared dividends of $0.68 per common share (H1 2022 - $0.64). 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,
	2023		2022		2023		2022
Cash dividends	$	58.6	$	51.3	$	116.4	$	101.4
DRIP dividends		6.9		9.7		14.5		21.8
	$	65.5	$	61.0	$	130.9	$	123.2