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Shares | 12 Months Ended
--- | ---
Dec. 31, 2022
Equity [Abstract] |
Shares | Shares a) Common shares
|  | Common shares |  | Treasury shares |  | Common shares, net of treasury shares
Issued and outstanding at December 31, 2020 |  | 31,011,831 |  |  | (1,845,201) |  |  | 29,166,630 |
Issued upon exercise of stock options |  | 125,000 |  |  | — |  |  | 125,000 |
Retired through share purchase program |  | (1,113,903) |  |  | — |  |  | (1,113,903) |
Purchase of treasury shares |  | — |  |  | (21,503) |  |  | (21,503) |
Settlement of certain equity classified stock-based compensation |  | — |  |  | 301,891 |  |  | 301,891 |
Issued and outstanding at December 31, 2021 |  | 30,022,928 |  |  | (1,564,813) |  |  | 28,458,115 |
Retired through share purchase program |  | (2,195,646) |  |  | — |  |  | (2,195,646) |
Purchase of treasury shares |  | — |  |  | (26,012) |  |  | (26,012) |
Settlement of certain equity classified stock-based compensation |  | — |  |  | 184,364 |  |  | 184,364 |
Issued and outstanding at December 31, 2022 |  | 27,827,282 |  |  | (1,406,461) |  |  | 26,420,821 |
Upon settlement of certain equity classified stock-based compensation during the year ended December 31, 2022, the Company withheld the cash equivalent of 112,583 shares for $1,591 to satisfy the recipient tax withholding requirements (year ended December 31, 2021 - 274,359 shares for $5,134). b) Net income per share
Year ended December 31, |  | 2022 |  | 2021
Net income |  | $ | 67,372 |  |  | $ | 51,408 |
Interest from convertible debentures (after tax) |  | 5,893 |  |  | 4,410 |
Diluted net income available to common shareholders |  | $ | 73,265 |  |  | $ | 55,818 |
Weighted-average number of common shares |  | 27,406,140 |  |  | 28,325,489 |
Weighted-average effect of dilutive securities |  |  |  |
Dilutive effect of treasury shares |  | 1,485,275 |  |  | 1,707,718 |
Dilutive effect of stock options |  | — |  |  | 47,767 |
Dilutive effect of 5.00% convertible debentures |  | 2,095,236 |  |  | 2,095,236 |
Dilutive effect of 5.50% convertible debentures |  | 3,020,199 |  |  | 1,770,747 |
Weighted-average number of diluted common shares |  | 34,006,850 |  |  | 33,946,957 |
Basic net income per share |  | $ | 2.46 |  |  | $ | 1.81 |
Diluted net income per share |  | $ | 2.15 |  |  | $ | 1.64 |
For the year ended December 31, 2022, all securities were dilutive (year ended December 31, 2021, all securities were dilutive). On April 11, 2022, the Company commenced a normal course issuer bid ("NCIB") under which a maximum number of 2,113,054 common shares were authorized to be purchased. During the year ended December 31, 2022, the Company purchased and subsequently cancelled 2,113,054 shares under this NCIB, which resulted in a decrease to common shares of $16,824 and a decrease to additional paid-in capital of $15,827. This NCIB is now complete, with the purchase and cancellation of the maximum number of shares. During the year ended December 31, 2022, the Company completed a NCIB which commenced on April 9, 2021, upon the purchase and cancellation of 82,592 common shares, which resulted in a decrease to common shares of $665 and a decrease to additional paid-in capital of $816. c) Dividends
|  | Date declared |  | Per share |  | Shareholders on record as of |  | Paid or payable to shareholders |  | Total paid or payable
Q1 2021 |  | February 16, 2021 |  | $ | 0.04 |  |  | March 4, 2021 |  | April 9, 2021 |  | $ | 1,123 |
Q2 2021 |  | April 27, 2021 |  | $ | 0.04 |  |  | May 28, 2021 |  | July 9, 2021 |  | $ | 1,123 |
Q3 2021 |  | July 27, 2021 |  | $ | 0.04 |  |  | August 31, 2021 |  | October 8, 2021 |  | $ | 1,137 |
Q4 2021 |  | October 26, 2021 |  | $ | 0.04 |  |  | November 30, 2021 |  | January 7, 2022 |  | $ | 1,137 |
Q1 2022 |  | February 15, 2022 |  | $ | 0.08 |  |  | March 4, 2022 |  | April 8, 2022 |  | $ | 2,277 |
Q2 2022 |  | April 26, 2022 |  | $ | 0.08 |  |  | May 27, 2022 |  | July 8, 2022 |  | $ | 2,232 |
Q3 2022 |  | July 26, 2022 |  | $ | 0.08 |  |  | August 31, 2022 |  | October 7, 2022 |  | $ | 2,127 |
Q4 2022 |  | October 25, 2022 |  | $ | 0.08 |  |  | November 30, 2022 |  | January 6, 2023 |  | $ | 2,098 |

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