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SHARE REPURCHASE PROGRAMS AND DIVIDENDS
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
SHARE REPURCHASE PROGRAMS AND DIVIDENDS SHARE REPURCHASE PROGRAMS AND DIVIDENDS
Share Repurchase Programs

In 2024, 2023 and 2022, our 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 Consolidated Statements of Changes in Shareholders’ Equity in the period the payment is made.

The following summarizes our common share repurchases pursuant to our share repurchase programs (in thousands, except per share data):

202420232022
Shares repurchased1,130564124
Average price paid per share$26.19 $20.60 $28.54 
Dollar-value of shares repurchased$29,616 $11,634 $3,540 

In addition to the shares repurchased pursuant to our share repurchase programs, we repurchased 374,753 common shares from a shareholder for approximately $10.7 million during the three months ended September 30, 2022.
Dividends

Our Board declared the following quarterly dividends in 2024 and 2023. No dividends were paid in 2022. The dividends are eligible dividends pursuant to the Income Tax Act (Canada).

Date DeclaredRecord DatePayment DatePer Share Amount
October 30, 2024November 25, 2024December 16, 2024$0.25 
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 
October 27, 2023November 27, 2023December 18, 2023$0.25 
September 5, 2023September 15, 2023September 29, 2023$0.25