Westjet 2014 Annual Report Download - page 30

WestJet Annual Report 2014│28
SHARE CAPITAL
Outstanding share data
Our issued and outstanding voting shares, along with voting shares potentially issuable, are as follows:
(number of shares)
January 31,
2015
December 31,
2014
Issued and outstanding:
Common voting shares 107,465,625 107,998,929
Variable voting shares
20,239,238
19,691,939
Total voting shares issued and outstanding
127,704,863
127,690,868
Voting shares potentially issuable:
Stock options
3,694,334
3,738,714
RSUs – Key employee plan 391,030 391,030
RSUs – Executive share unit plan 179,890 179,890
PSUs
321,620
321,620
Total voting shares potentially issuable
4,586,874
4,631,255
Total outstanding and potentially issuable voting shares
132,292,346
132,322,123
Quarterly dividend policy
Our dividend is reviewed against the Corporation’s dividend policy on a quarterly basis in light of our financial position,
financing policies, cash flow requirements and other factors deemed relevant. On February 2, 2015, the Board of Directors
declared our 2015 first quarter dividend of $0.14 per common voting share and variable voting share payable on March 31,
2015 to shareholders of record on March 18, 2015. This represents an increase of 16.7 per cent from our previous quarterly
amount of $0.12 per share declared and paid during the fourth quarter of 2014. We believe this demonstrates our confidence
in delivering continued profitable results and is consistent with our objective of creating and returning value to our
shareholders.
Normal course issuer bid
Our previous normal course issuer bid expired on February 18, 2014 (February 2013 bid) and on May 5, 2014 the Toronto
Stock Exchange (TSX) accepted our notice to make another normal course issuer bid to purchase outstanding shares on the
open market (May 2014 bid). Under this bid we are authorized to purchase up to 2,000,000 Common Voting Shares and
Variable Voting Shares (representing approximately 1.6 per cent of our issued and outstanding shares at the time of the bid)
during the period of May 8, 2014 to May 7, 2015 or until such time as the bid is completed or terminated at our option. Any
shares purchased under the bid are purchased on the open market through the facilities of the TSX at the prevailing market
price at the time of the transaction. Shares acquired under the bid will be cancelled.
During the three months ended December 31, 2014, we repurchased and cancelled 288,186 shares under the May 2014 bid.
For the year ended December 31, 2014, we repurchased and cancelled 1,435,150 shares which included 954,840 shares
repurchased and cancelled under the February 2013 bid, and 480,310 shares under the May 2014 bid equal to 24.0 per cent
of the maximum number of shares we are authorized to repurchase under the May 2014 bid, for total consideration of $14.7
million. As of the date of this MD&A, there are 1,519,690 shares remaining for purchase under the May 2014 bid.
A shareholder of WestJet may obtain a copy of the notice filed with the TSX in relation to the bid, free of charge, by
contacting the Corporate Secretary of WestJet, at 22 Aerial Place N.E., Calgary, Alberta T2E 3J1 (telephone: [phone]
or by faxing a written request to [phone]).