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Shares | 12 Months Ended
--- | ---
Dec. 31, 2019
Equity [Abstract] |
Shares | Shares a) Common shares Issued and outstanding:
|  | Common shares |  |  | Treasury shares |  |  | Common shares, net of treasury shares |
Issued and outstanding at December 31, 2017 |  | 28,070,150 |  |  | (2,617,926 | ) |  | 25,452,224 |
Issued upon exercise of stock options |  | 297,940 |  |  | — |  |  | 297,940 |
Issued upon conversion of convertible debentures |  | 2,211 |  |  | — |  |  | 2,211 |
Purchase of treasury shares |  | — |  |  | (660,620 | ) |  | (660,620 | )
Settlement of certain equity classified stock-based compensation |  | — |  |  | 1,193,935 |  |  | 1,193,935 |
Retired through share purchase program |  | (1,281,485 | ) |  | — |  |  | (1,281,485 | )
Issued and outstanding at December 31, 2018 |  | 27,088,816 |  |  | (2,084,611 | ) |  | 25,004,205 |
Issued upon exercise of stock options |  | 327,000 |  |  | — |  |  | 327,000 |
Issued upon conversion of convertible debentures |  | 87,096 |  |  | — |  |  | 87,096 |
Purchase of treasury shares |  | — |  |  | (735,857 | ) |  | (735,857 | )
Settlement of certain equity classified stock-based compensation |  | — |  |  | 1,095,001 |  |  | 1,095,001 |
Issued and outstanding at December 31, 2019 |  | 27,502,912 |  |  | (1,725,467 | ) |  | 25,777,445 |
Upon settlement of certain equity classified stock-based compensation during the year ended December 31, 2019, the Company repurchased 513,540 shares for $7,246 to satisfy the recipient tax withholding requirements (year ended December 31, 2018 - 553,036 shares for $4,308). The repurchased shares are included in the purchase of treasury shares for settlement of certain equity classified stock-based compensation. b) Net income per share
Year ended December 31, | 2019 |  |  | 2018 |
Net income available to common shareholders | $ | 36,878 |  |  | $ | 15,286 |
Interest from convertible debentures (after tax) | 3,590 |  |  | 1,792 |
Diluted net income available to common shareholders | $ | 40,468 |  |  | $ | 17,078 |
Weighted-average number of common shares | 25,444,374 |  |  | 24,991,517 |
Weighted-average effect of dilutive securities |  |  |
Dilutive effect of treasury shares | 1,898,645 |  |  | 2,394,824 |
Dilutive effect of stock options | 255,378 |  |  | 357,026 |
Dilutive effect of 5.00% convertible debentures | 1,647,487 |  |  | — |
Dilutive effect of 5.50% convertible debentures | 3,597,327 |  |  | 3,684,424 |
Weighted-average number of diluted common shares | 32,843,211 |  |  | 31,427,791 |
Basic net income per share | $ | 1.45 |  |  | $ | 0.61 |
Diluted net income per share | $ | 1.23 |  |  | $ | 0.54 |
For the year ended December 31, 2019, there were no securities that were anti-dilutive. For the year ended December 31, 2018, there were 14,247 stock options that were anti-dilutive and therefore were no t considered in computing diluted net income per share. c) Share purchase programs Commencing on August 14, 2017, the Company engaged in a normal course issuer bid ("NCIB") under which a maximum number of 2,424,333 common shares were authorized to be purchased. During the year ended December 31, 2018, the Company purchased and subsequently cancelled 1,281,485 shares under this NCIB, which resulted in a reduction of common shares of $10,975 and an increase to additional paid-in capital of $1,435. This NCIB expired on August 13, 2018. d) Dividends The Company will pay an annual aggregate dividend of $0.12 per common share in 2019 and intends to pay $0.16 in subsequent years, payable on a quarterly basis.
|  | Date declared |  | Per share |  |  | Shareholders on record as of |  | Paid or payable to shareholders |  | Total paid or payable |
Q4 2018 |  | October 29, 2018 |  | $ | 0.02 |  |  | November 30, 2018 |  | January 4, 2019 |  | $ | 500 |
Q1 2019 |  | February 25, 2019 |  | $ | 0.02 |  |  | March 12, 2019 |  | April 5, 2019 |  | $ | 503 |
Q2 2019 |  | April 30, 2019 |  | $ | 0.02 |  |  | May 31, 2019 |  | July 5, 2019 |  | $ | 505 |
Q3 2019 |  | July 30, 2019 |  | $ | 0.04 |  |  | August 31, 2019 |  | October 4, 2019 |  | $ | 1,028 |
Q4 2019 |  | October 29, 2019 |  | $ | 0.04 |  |  | November 30, 2019 |  | January 3, 2020 |  | $ | 1,030 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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