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SHARE REPURCHASE PROGRAMS AND DIVIDENDS
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
SHARE REPURCHASE PROGRAMS AND DIVIDENDS SHARE REPURCHASE PROGRAMS AND DIVIDENDS
 
Share Repurchase Programs

In 2024, 2023 and 2022, our Board of Directors (Board) authorized the repurchase of up to 5.0% of our total common shares which were issued and outstanding, or approximately 711,000, 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. Any common shares repurchased 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 for the periods presented (in thousands, except per share data):
Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Dollar-value of shares repurchased$14,208 $1,252 $24,060 $9,222 
Shares repurchased514.8 62.3 922.0 443.2 
Average price paid per share$27.59 $20.05 $26.08 $20.78 

Dividends

Our Board declared the following quarterly dividends for the nine months ended September 30, 2024 and 2023. The dividends are eligible dividends pursuant to the Income Tax Act (Canada).
Date DeclaredRecord DatePayment DatePer Share Amount
July 30, 2024August 26, 2024September 16, 2024$0.25 
April 26, 2024May 27, 2024June 17, 2024$0.25 
February 2, 2024February 26, 2024March 18, 2024$0.25 
September 5, 2023September 15, 2023September 29, 2023$0.25