|
|
|
|
|
|
|
|
|
thousands of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,100,000 |
|
Common shares outstanding |
|
|
|
|
|
|
743,902 |
| The current 12-month limited normal course issuer bid program came into effect on June 29, 2020 and is used primarily to eliminate dilution from shares issued in conjunction with Imperial’s restricted stock unit plan. The program enables the company to purchase up to a maximum of 50,000 common shares, which includes shares purchased under the normal course issuer bid and from Exxon Mobil Corporation concurrent with, but outside of the normal course issuer bid. As in the past, Exxon Mobil Corporation has advised the company that it intends to participate to maintain its ownership percentage at approximately 69.6 percent. The excess of the purchase cost over the stated value of shares purchased has been recorded as a distribution of earnings reinvested. The company’s common share activities are summarized below:
|
|
|
|
|
|
|
|
|
|
|
Thousands of shares |
|
|
Millions of dollars |
|
Balance as at December 31, 2018 |
|
|
782,565 |
|
|
|
1,446 |
|
Issued under employee share-based awards |
|
|
1 |
|
|
|
- |
|
Purchases at stated value |
|
|
(38,664 |
) |
|
|
(71 |
) |
Balance as at December 31, 2019 |
|
|
743,902 |
|
|
|
1,375 |
|
Issued under employee share-based awards |
|
|
- |
|
|
|
- |
|
Purchases at stated value |
|
|
|
|
|
|
|
|
Balance as at September 30, 2020 |
|
|
|
|
|
|
|
| The following table provides the calculation of basic and diluted earnings per common share and the dividends declared by the company on its outstanding common shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Third Quarter |
|
|
Nine Months to September 30 |
|
|
|
|
|
|
2019 |
|
|
|
|
|
2019 |
|
Net income (loss) per common share - basic |
|
|
|
| |
|
|
| |
|
|
| |
|
| |
Net income (loss) (millions of Canadian dollars) |
|
|
|
|
|
|
424 |
|
|
|
|
|
|
|
1,929 |
|
Weighted average number of common shares outstanding (millions of shares) |
|
|
|
|
|
|
757.8 |
|
|
|
|
|
|
|
767.6 |
|
Net income (loss) per common share (dollars) |
|
|
|
|
|
|
0.56 |
|
|
|
|
|
|
|
2.51 |
|
|
|
|
| |
Net income (loss) per common share - diluted |
|
|
|
| |
|
|
| |
|
|
| |
|
| |
Net income (loss) (millions of Canadian dollars) |
|
|
|
|
|
|
424 |
|
|
|
|
|
|
|
1,929 |
|
Weighted average number of common shares outstanding (millions of shares) |
|
|
|
|
|
|
757.8 |
|
|
|
|
|
|
|
767.6 |
|
Effect of employee share-based awards (millions of shares) (a) |
|
|
|
|
|
|
2.5 |
|
|
|
|
|
|
|
2.4 |
|
Weighted average number of common shares outstanding, assuming dilution (millions of shares) |
|
|
|
|
|
|
760.3 |
|
|
|
|
|
|
|
770.0 |
|
Net income (loss) per common share (dollars) |
|
|
|
|
|
|
0.56 |
|
|
|
|
|
|
|
2.51 |
|
|
|
|
| |
Dividends per common share - declared (dollars) |
|
|
|
|
|
|
0.22 |
|
|
|
|
|
|
|
0.63 |
|
(a) |
For Nine Months to September 30, 2020, the Net income (loss) per common share – diluted excludes the effect of 2.1 million employee share-based awards. Share-based awards have the potential to dilute basic earnings per share in the future. |
|