Strong 2018-19 Crown sector results

Partnerships and collaboration credited

Saskatchewan’s Crown sector posted another successful year in 2018-19.  Working towards Crown sector and government priorities with a focus on partnerships and collaboration, the sector recorded earnings of just over half-a-billion dollars and provided a 25 per cent increase in dividends to the province.

“Across Canada, Saskatchewan’s Crown sector has no equal and these strong financial results are proof this model works,” Crown Investments Minister Joe Hargrave said.  “The Crowns deliver not just financially, but also with excellent customer service, providing affordable and safe utilities, cost-effective insurance programs, support for innovative technology start-ups and first-class entertainment opportunities.”

article continues below

In 2018-19, the Crowns recorded net earnings of $540.6 million, an increase of $37.6 million over the previous year.  CIC delivered $256 million in dividends to the General Revenue Fund (GRF), an increase of $51 million over 2017-18.

Over the past five years, earnings of $1.9 billion were reported while providing $1.2 billion in dividends.  Investment in capital renewal and expansion totalled $1.4 billion in 2018-19 with a further $1.7 billion investment forecast annually over the next five years to ensure Saskatchewan people have safe, reliable and affordable utilities and services.

The Crowns continue to contribute to the high quality of life in Saskatchewan.  Collaboration efforts include participating in initiatives like the framework for Prairie Resilience: A Made-in-Saskatchewan Climate Change Strategy, ongoing implementation of the rural wireless initiative, exploring partnership opportunities with rural municipalities on water infrastructure projects, and working with Saskatchewan business to help develop a globally competitive private sector.

The 2018-19 annual reports for Crown Investments Corporation (CIC) and Saskatchewan Transportation Company (STC) are available online at www.cicorp.sk.ca.  This is the final annual report for STC. The wind-up is complete with the company's dissolution on March 31, 2019.

 

© Copyright Yorkton This Week

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Yorkton This Week welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Voting POLL

When will you vote?

or  view results

Sign Up for Our Newsletter!

Community Event Calendar


Find out what's happening in your community and submit your own local events.

Popular Yorkton News