The most recent 12-month normal course issuer bid program came into effect June 29, 2025, under which Imperial continued its then-existing share purchase program. The program enabled the company to purchase up to a maximum of 25,452,248 common shares (5 percent of the total shares on June 15, 2025) which included shares purchased under the normal course issuer bid from Exxon Mobil Corporation. As in the past, Exxon Mobil Corporation advised the company that it intended to participate to maintain its ownership percentage at approximately 69.6 percent. The program completed on December 17, 2025 as a result of the company purchasing the maximum allowable number of shares under the program.


	Thousands of shares	Millions of dollars
Balance as at January 1, 2023	584,153	1,079

Purchases at stated value	(48,316)	(87)
Balance as at December 31, 2023	535,837	992

Purchases at stated value	(26,792)	(50)
Balance as at December 31, 2024	509,045	942

Purchases at stated value	(25,452)	(47)
Balance as at December 31, 2025	483,593	895

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:


	2025	2024	2023
Net income (loss) per common share – basic
Net income (loss) (millions of Canadian dollars)	3,268	4,790	4,889
Weighted-average number of common shares outstanding (millions of shares)	502.8	529.4	574.8
Net income (loss) per common share (dollars)	6.50	9.05	8.51

Net income (loss) per common share – diluted
Net income (loss) (millions of Canadian dollars)	3,268	4,790	4,889
Weighted-average number of common shares outstanding (millions of shares)	502.8	529.4	574.8
Effect of employee share-based awards (millions of shares)	1.2	1.2	1.1
Weighted-average number of common shares outstanding, assuming dilution (millions of shares)	504.0	530.6	575.9
Net income (loss) per common share (dollars)	6.48	9.03	8.49

Dividends per common share – declared (dollars)	2.88	2.40	1.94