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SHARE REPURCHASE PROGRAMS AND DIVIDENDS | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
SHARE REPURCHASE PROGRAMS AND DIVIDENDS | SHARE REPURCHASE PROGRAMS AND DIVIDENDS Share Repurchase Programs In August 2023 and 2022, our Board of Directors (Board) authorized common share repurchase programs to repurchase up to 5.0% of our total common shares which were issued and outstanding, or approximately 742,000 and 685,000 common shares, respectively, over a twelve month period. The repurchase authorization allows repurchases from time to time in open market transactions, including pursuant to trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. We have funded, and intend to continue to fund, repurchases through cash on hand and cash generated from operations. The common shares repurchased under the share repurchase programs are cancelled in the periods they are acquired and the payment is accounted for as an increase to accumulated deficit in our Unaudited Consolidated Statements of Changes in Shareholders’ Equity in the period the payment is made. The following table summarizes our common share repurchases pursuant to our share repurchase programs (in thousands, except per share data).
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Dollar-value of shares repurchased | $ | 3,208 |  |  | $ | 3,771 |  |  |  |  |
Shares repurchased | 133.1 |  |  | 168.7 |  |  |  |  |
Average price paid per share | $ | 24.08 |  |  | $ | 22.33 |  |  |  |  |
Dividends Our Board declared a quarterly dividend on February 2, 2024 of $0.25 per common share to shareholders of record as of close of business on February 26, 2024. The total cash payment of $3.7 million was paid on March 18, 2024. The dividend is an eligible dividend pursuant to the Income Tax Act (Canada).

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505-30/tableOfContent + Details
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