XML 48 R24.htm IDEA: XBRL DOCUMENT v3.24.0.1
Shares
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Shares Shares
a) Common shares
Common sharesTreasury sharesCommon shares, net of treasury shares
Issued and outstanding at December 31, 202130,022,928 (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, 202227,827,282 (1,406,461)26,420,821 
Purchase of treasury shares— (20,955)(20,955)
Settlement of certain equity classified stock-based compensation— 337,229 337,229 
Issued and outstanding at December 31, 202327,827,282 (1,090,187)26,737,095 
Upon settlement of certain equity classified stock-based compensation during the year ended December 31, 2023, the Company withheld the cash equivalent of 234,728 shares for $5,479 to satisfy the recipient tax withholding requirements (year ended December 31, 2022 - 112,583 shares for $1,591).
b) Net income per share
Year ended December 31, 20232022
Net income$63,141 $67,372 
Interest from convertible debentures (after tax)5,925 5,893 
Diluted net income available to common shareholders$69,066 $73,265 
Weighted-average number of common shares26,566,846 27,406,140 
Weighted-average effect of dilutive securities
Dilutive effect of treasury shares1,260,436 1,485,275 
Dilutive effect of 5.00% convertible debentures
2,148,438 2,095,236 
Dilutive effect of 5.50% convertible debentures
3,051,020 3,020,199 
Weighted-average number of diluted common shares33,026,740 34,006,850 
Basic net income per share$2.38 $2.46 
Diluted net income per share$2.09 $2.15 
For the years ended December 31, 2023, and December 31, 2022, all securities were dilutive.
c) Share purchase program
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 purchased and subsequently cancelled 82,592 shares under another NCIB which commenced on April 9, 2021, which resulted in a decrease to common shares of $665 and a decrease to additional paid-in capital of $816. This NCIB terminated April 8, 2022.
d) Dividends
Date declaredPer shareShareholders on record as ofPaid or payable to shareholdersTotal paid or payable
Q1 2022February 15, 2022$0.08 March 4, 2022April 8, 2022$2,277 
Q2 2022April 26, 2022$0.08 May 27, 2022July 8, 2022$2,232 
Q3 2022July 26, 2022$0.08 August 31, 2022October 7, 2022$2,127 
Q4 2022October 25, 2022$0.08 November 30, 2022January 6, 2023$2,098 
Q1 2023February 14, 2023$0.10 March 3, 2023April 6, 2023$2,621 
Q2 2023April 25, 2023$0.10 May 26, 2023July 7, 2023$2,641 
Q3 2023July 25, 2023$0.10 August 31, 2023October 6, 2023$2,674 
Q4 2023October 31, 2023$0.10 November 30, 2023January 5, 2024$2,674