8 unchanged sentences
We can give no assurances that we will pay a dividend in the future.
−Removed: The preferred shares we issued in the Noralta Acquisition are entitled to receive a 2% annual dividend on the liquidation preference (initially $10,000 per share), paid quarterly in cash or, at our option, by increasing the preferred shares’ liquidation preference, or any combination thereof.
−Removed: Quarterly dividends have been paid in-kind for each quarterly period beginning June 30, 2018 through December 31, 2021, thereby increasing the liquidation preference to $10,776 per share as of December 31, 2021.
−Removed: We currently expect to pay dividends on the preferred shares through an increase in liquidation preference rather than cash until they mandatorily convert to Civeo common shares in April 2023.
+Added: The preferred shares we issued in the Noralta Acquisition were entitled to receive a 2% annual dividend on the liquidation preference (initially $10,000 per share), paid quarterly in cash or, at our option, by increasing the preferred shares’ liquidation preference, or any combination thereof.
+Added: Quarterly dividends were paid in-kind beginning June 30, 2018 through December 12, 2022, thereby increasing the liquidation preference to $10,982 per share as of December 12, 2022.
+Added: We repurchased 40% of the outstanding preferred shares on October 30, 2022, which included accrued cash dividends for the month of October 2022 of under $0.1 million.
+Added: On December 13, 2022, the holders of the preferred shares converted all outstanding preferred shares into approximately 1.5 million common shares.
+Added: Following such conversion, no further dividends are required to be paid.
For further information, see Note 16 - Preferred Shares to the notes to the consolidated financial statements included in Item 8 of this annual report.
2 unchanged sentences
Information used in the graph was obtained from Research Data Group, Inc., a source believed to be reliable, but we are not responsible for any errors or omissions in such information.
−Removed: The following performance graph and chart compare the cumulative total return to holders of our common shares with the cumulative total returns of the Standard & Poor's 500 Stock Index, Philadelphia OSX and with that of our current and prior peer groups, for the period from December 31, 2016 to December 31, 2021.
+Added: The following performance graph and chart compare the cumulative total return to holders of our common shares with the cumulative total returns of the Standard & Poor's 500 Stock Index, Philadelphia OSX and with that of our peer group, for the period from December 31, 2017 to December 31, 2022.
The graph and chart show the value, at the dates indicated, of $100 invested at December 31, 2017 and assume the reinvestment of all dividends, as applicable.
−Removed: In 2021, we revised our peer group to ensure the companies continue to provide appropriate comparability to us.
−Removed: Our current peer group consists of the following:
+Added: Our peer group consists of the following:
Badger Daylighting Ltd.
11 unchanged sentences
Newpark Resources, Inc.
−Removed: (1) Additions to peer group for 2021.
−Removed: Our current peer group when compared to our prior peer group excludes Basic Energy Services, Inc., Quintana Energy Services Inc., Source Energy Services Ltd.
−Removed: and Step Energy Services Ltd.
12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22
2 unchanged sentences
PHLX Oil Service Sector $ 100.00 $ 54.78 $ 54.48 $ 31.56 $ 38.10 $ 61.53
−Removed: Prior Peer Group $ 100.00 $ 84.90 $ 51.14 $ 57.10 $ 51.53 $ 74.06
Current Peer Group $ 100.00 $ 76.45 $ 89.83 $ 79.54 $ 107.71 $ 119.46
2 unchanged sentences
Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Repurchases of Equity Securities by Registrant or its Affiliates in the Fourth Quarter
−Removed: The following table provides information about purchases of our common shares during the three months ended December 31, 2021.
−Removed: Total Number of Shares Purchased (1)
−Removed: Average Price Paid per Share Total number of shares purchased as part of publicly announced plans or programs Maximum number of shares that may yet be purchased under the plans or programs
−Removed: October 1, 2021 - October 31, 2021 60,026 $ 22.16 60,026 635,683
−Removed: November 1, 2021 - November 30, 2021 47,430 $ 21.49 47,430 588,253
−Removed: December 1, 2021 - December 31, 2021 89,618 $ 20.64 89,618 498,635
−Removed: Total 197,074 $ 21.30 197,074 498,635
−Removed: (1) In August 2021, our Board of Directors authorized a common share repurchase program to repurchase up to 5.0% of our total common shares which are issued and outstanding, or 715,814 common shares, over a twelve-month period.
−Removed: We repurchased an aggregate of 197,074 of our common shares outstanding for approximately $4.2 million during the three months ended December 31, 2021.
+Added: Repurchases of Registered Equity Securities by Registrant or its Affiliates in the Fourth Quarter
+Added: In August 2022, our Board of Directors authorized a new common share repurchase program to repurchase up to 5.0% of our total common shares which are issued and outstanding, or 685,614 common shares, over a twelve month period.
+Added: We have not repurchased any shares under this repurchase program as of December 31, 2022.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.