| Summary of Change in Capital |
The change in capital, which includes stated share capital and contributed surplus, are as follows:
|
|
|
|
|
|
|
|
(millions of U.S. dollars) |
|
Number of Common Shares |
Stated Share Capital |
Series II, Cumulative Redeemable Preference Share Capital |
|
Contributed Surplus |
Total Capital |
Balance, December 31, 2023 |
|
452,962,832 |
$1,791 |
$110 |
|
$1,504 |
$3,405 |
Shares issued under DRIP |
|
180,659 |
29 |
- |
|
- |
29 |
Stock compensation plans(1) |
|
942,756 |
152 |
- |
|
(73) |
79 |
Repurchases of common shares |
|
(4,075,762) |
(15) |
- |
|
- |
(15) |
Balance, December 31, 2024 |
|
450,010,485 |
1,957 |
110 |
|
1,431 |
3,498 |
Shares issued under DRIP |
|
202,433 |
34 |
- |
|
- |
34 |
Stock compensation plans(1) |
|
772,009 |
132 |
- |
|
(23) |
109 |
Repurchases of common shares |
|
(6,022,437) |
(44) |
- |
|
- |
(44) |
Balance, December 31, 2025 |
|
444,962,490 |
$2,079 |
$110 |
|
$1,408 |
$3,597 |
Movements in contributed surplus include cash payments related to withholding tax on stock compensation plans.
|
| Summary of dividend declared and paid |
Details of dividends declared per common share and dividends paid on common shares are as follows:
|
|
|
|
|
|
|
|
|
Year ended December 31, |
(millions of U.S. dollars, except per share amounts) |
|
|
2025 |
|
2024 |
Dividends declared per common share |
|
|
$2.38 |
|
$2.16 |
Dividends declared |
|
|
1,069 |
|
973 |
Dividends reinvested |
|
|
(34) |
|
(29) |
Dividends paid |
|
|
1,035 |
|
944 |
|