SHARE REPURCHASE PROGRAMS AND DIVIDENDS

6 Months Ended

Jun. 30, 2024

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Dollar-value of shares repurchased	$	6,644	$	4,199	$	9,852	$	7,970
Shares repurchased	274.1		212.2		407.2		380.9
Average price paid per share	$	24.21	$	19.75	$	24.17	$	20.90

Dividends

Our Board declared the following quarterly dividends for the six months ended June 30, 2024. The dividends are eligible dividends pursuant to the Income Tax Act (Canada).

Date Declared

Record Date

Payment Date

Per Share Amount

April 26, 2024

May 27, 2024

June 17, 2024

0.25

February 2, 2024

February 26, 2024

March 18, 2024

0.25