EDMONTON, Alberta, Nov. 30, 2021 (GLOBE NEWSWIRE) -- EPCOR’s annual dividend to its sole shareholder, the City of Edmonton, will increase from $171 million in 2021 to $177 million in 2022. The increase was recommended by EPCOR’s Board of Directors, and approved by the shareholder on November 25, 2021.
“Based on EPCOR’s strong and stable performance, and growth achieved through successful business development activities, company earnings support an increase to the dividend in 2022,” said EPCOR President and CEO Stuart Lee.
In accordance with EPCOR’s dividend policy, the new dividend amount will remain in effect until the EPCOR Board recommends a different amount to the shareholder for approval.
“EPCOR’s diversification and growth into a North American utility, with operations in four provinces and three states, continues to create value for Edmontonians and for customers in each of the communities we serve,” explained Lee. “EPCOR’s investments are sustaining and expanding reliable utility service, while keeping utility rates affordable and competitive.”
EPCOR, through its wholly owned subsidiaries, builds, owns and operates electrical, natural gas and water transmission and distribution networks, water and wastewater treatment facilities, sanitary and stormwater systems, and infrastructure in Canada and the United States. The company also provides electricity, natural gas and water products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is committed to conducting its business and operations safely and responsibly, while positively contributing to the environment and social causes in the communities it serves. EPCOR is an Alberta Top 75 employer, and is ranked among Corporate Knights’ 2021 Best 50 Corporate Citizens in Canada.
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