SHARE REPURCHASE PROGRAMS AND DIVIDENDS

3 Months Ended

Mar. 31, 2025

Share Repurchase Programs

In March 2025 and September 2024, our Board of Directors (Board) authorized the repurchase of up to 10.0% and 5.0% of our total common shares which were issued and outstanding, or approximately 1,351,000 and 711,000 common shares, respectively, over a twelve month period.

The repurchase authorization allows repurchases from time to time through a variety of methods, including but not limited to open market repurchases, pursuant to a Rule 10b5-1 compliant plan, or privately negotiated transactions. We have funded, and intend to continue to fund, repurchases through cash on hand, cash from debt incurrences 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 March 31,
	2025		2024
Dollar-value of shares repurchased	$	3,334	$	3,208
Shares repurchased	153.1		133.1
Average price paid per share	$	21.75	$	24.08

Dividends

Our Board declared the following quarterly dividends for the three months ended March 31, 2025 and 2024. The dividends are eligible dividends pursuant to the Income Tax Act (Canada).

Date Declared

Record Date

Payment Date

Per Share Amount

January 31, 2025

February 24, 2025

March 17, 2025

$0.25

February 2, 2024

February 26, 2024

March 18, 2024

$0.25