THUNDER BAY –Tbaytel's annual contribution to city coffers totalled than $18.5 million this year.
The municipally owned utility will contribute a fixed dividend payment of $17.37 million, as well as a $1 million special dividend payment and a performance bonus of $175,123.
“Once again, Tbaytel has proven through its annual financial results that it continues to be a major economic engine and an integral part of the northern Ontario business community,” said Tbaytel municipal services board chair Jack Jamieson.
“2017 was a very strong year for Tbaytel’s entire workforce, made up of 429 dedicated employees who are helping the company continue to grow, expand and explore new business opportunities.”
The company, which held its annual general meeting at city hall on Monday night, reported $191.4 million in earnings for 2017.
The utility also handed out $576,000 to 174 different agencies or events in 19 different communities last year, part of its social responsibility program.
“At Tbaytel, we continue to make investments that matter to our customers and our community – investments in the people, technology and innovation that improve the lives of everyone we share our community with,” said Tbaytel president and Dan Topatigh.
“Being one of the few locally owned and operated telecommunications companies in the country today, it is vitally important that this mindset extends the entire reach of the Tbaytel organization. I am very pleased to share Tbaytel’s community report to show our community exactly how we achieved this in 2017.”
