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Shares | 12 Months Ended
--- | ---
Dec. 31, 2024
Equity [Abstract] |
Shares | Shares a) Common shares
|  | Common shares |  | Treasury shares |  | Common shares, net of treasury shares
Issued and outstanding at December 31, 2022 |  | 27,827,282 |  |  | (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, 2023 |  | 27,827,282 |  |  | (1,090,187) |  |  | 26,737,095 |
Issued upon conversion of convertible debentures |  | 26,576 |  |  | — |  |  | 26,576 |
Retired through share purchase program |  | (149,408) |  |  | — |  |  | (149,408) |
Purchase of treasury shares |  | — |  |  | (15,641) |  |  | (15,641) |
Settlement of certain equity classified stock-based compensation |  | — |  |  | 105,500 |  |  | 105,500 |
Issued and outstanding at December 31, 2024 |  | 27,704,450 |  |  | (1,000,328) |  |  | 26,704,122 |
Upon settlement of certain equity classified stock-based compensation during the year ended December 31, 2024, the Company withheld the cash equivalent of 76,542 shares for $2,019 to satisfy the recipient tax withholding requirements (year ended December 31, 2023 - 234,728 shares for $5,479). b) Net income per share
Year ended December 31, |  | 2024 |  | 2023
Net income |  | $ | 44,085 |  |  | $ | 63,141 |
Interest from convertible debentures (after tax) |  | 5,998 |  |  | 5,925 |
Diluted net income available to common shareholders |  | $ | 50,083 |  |  | $ | 69,066 |
Weighted-average number of common shares |  | 26,772,113 |  |  | 26,566,846 |
Weighted-average effect of dilutive securities |  |  |  |
Dilutive effect of treasury shares |  | 1,048,551 |  |  | 1,260,436 |
Dilutive effect of 5.00% convertible debentures |  | 2,174,773 |  |  | 2,148,438 |
Dilutive effect of 5.50% convertible debentures |  | 3,058,440 |  |  | 3,051,020 |
Weighted-average number of diluted common shares |  | 33,053,877 |  |  | 33,026,740 |
Basic net income per share |  | $ | 1.65 |  |  | $ | 2.38 |
Diluted net income per share |  | $ | 1.52 |  |  | $ | 2.09 |
For the years ended December 31, 2024, and December 31, 2023, all securities were dilutive. c) Share purchase program On November 4, 2024, the Company commenced a normal course issuer bid ("NCIB") under which a maximum number of 2,087,577 common shares were authorized to be purchased. During the year ended December 31, 2024, the Company purchased and subsequently cancelled 149,408 shares under this NCIB, which resulted in a decrease to common shares of $1,138 and a decrease to additional paid-in capital of $3,173. To support the NCIB, the Company entered into an automatic share purchase plan with a designated broker on January 7, 2025. This plan allows for the purchase of up to 2,087,577 common shares until the NCIB’s expiry on November 3, 2025. Subsequent to the year ended December 31, 2024, a s of March 14, 2025, the Company purchased and subsequently cancelled 55,000 shares under this NCIB, which resulted in a decrease of common shares of $492 and an increase to additional paid-in capital of $830. d) Dividends
|  | Date declared |  | Per share |  | Shareholders on record as of |  | Paid or payable to shareholders |  | Total paid or payable
Q1 2023 |  | February 14, 2023 |  | $ | 0.10 |  |  | March 3, 2023 |  | April 6, 2023 |  | $ | 2,621 |
Q2 2023 |  | April 25, 2023 |  | $ | 0.10 |  |  | May 26, 2023 |  | July 7, 2023 |  | $ | 2,641 |
Q3 2023 |  | July 25, 2023 |  | $ | 0.10 |  |  | August 31, 2023 |  | October 6, 2023 |  | $ | 2,674 |
Q4 2023 |  | October 31, 2023 |  | $ | 0.10 |  |  | November 30, 2023 |  | January 5, 2024 |  | $ | 2,674 |
Q1 2024 |  | February 20, 2024 |  | $ | 0.10 |  |  | March 8, 2024 |  | April 5, 2024 |  | $ | 2,673 |
Q2 2024 |  | April 30, 2024 |  | $ | 0.10 |  |  | May 31, 2024 |  | July 5, 2024 |  | $ | 2,673 |
Q3 2024 |  | July 31, 2024 |  | $ | 0.10 |  |  | August 30, 2024 |  | October 4, 2024 |  | $ | 2,624 |
Q4 2024 |  | October 29, 2024 |  | $ | 0.12 |  |  | November 27, 2024 |  | January 5, 2025 |  | $ | 3,022 |

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