ANNUAL REPORT 2013 103 ** Commencing in 2012 the Company changed its presentation currency from CAD to USD. The numbers for 2013-2010 have been fully restated. Historical  information for 2009-2004 has been converted by taking the previously reported Canadian dollar amounts and converting it at the annual average exchange rate  for that year. *  Amounts for 2013-2010 are based on International Financial Reporting Standards (“IFRS”); amounts for previous years are based on Canadian Generally Accepted  Accounting Principles (“GAAP”). (Amounts in $000s, except per share amounts)  2013* 2012*  2011*  2010* 2009** 2008** 2007** 2006**  2005** 2004** Book value per common share at year end $ 12.08 $ 10 .14 $ 10 .53 $ 9 .78 $ 7 .51 $ 7 .93 $ 5 .59 $ 4 .38 $ 3 .89 $ 7 .10 Gross capital expenditures from continuing operations  15,419 13,447 7,675 5,134 11,107 6,051 3,620 3,186 3,423 4,072 Per share information: Basic info per common share Based on net income  $ 2.07 $ 0 .15 $ 1 .24 $ 1 .20 $ 0 .94 $ 0 .89 $ 0 .65 $ 0 .37 $ (3 .16) $ 0 .58 Based on income from continuing operations  2.07 0 .15 1 .24 1 .20 0 .94 0 .89 0 .62 0 .44 0 .30 0 .87 Based on adjusted net income  2.72 2 .52 1 .82 1 .52 1 .01 1 .18 0 .68 0 .45 0 .34 0 .83 Diluted info per common share Based on net income  2.01 0 .14 1 .22 1 .19 0 .94 0 .72 0 .53 0 .27 (3 .24)  0 .50 Based on income from continuing operations  2.01 0 .14 1 .22 1 .19 0 .94 0 .72 0 .50 0 .34 0 .22 0 .78 Based on adjusted net income  2.65 2 .46 1 .88 1 .51 1 .01 0 .97 0 .57 0 .35 0 .26 0 .75 Common shares Outstanding at year end  15,286 15,129 15,087 15,149 18,331 18,471 13,381 10,315 10,284 10,710 Average outstanding for the year: Basic 15,184 15,119 15,109 16,096 18,385 15,059 10,443 10,306 10,567 10,863 Diluted 15,593 15,460 15,341 16,245 18,396 18,203 10,592 10,371 10,567 11,075 Amounts in this section are in CAD$: Second preference shares Dividends declared and paid  $ — $ — $ — $ — $ — $ 166 $ 1,210 $ 1,174 $ 1,036 $ 992 Dividends per share  — — — — — 0 .83 6 .05 5 .87 5 .18 5 .02 Series A preference shares Dividends declared and paid  — — — — — 774 — — — — Dividends per share  — — — — — 0 .39 — — — — Common shares Dividends declared and paid  10,305 6,379 5,891 5,238 4,959 3,244 2,073 2,027 2,147 2,176 Dividends per share  0.70 0 .42 0 .39 0 .33 0 .27 0 .22 0 .20 0 .20 0 .20 0 .20