Crown Investments Corporation had net earnings of $578.3 million and contributed $152 million to Saskatchewan's General Revenue Fund in dividends, the CIC announced Thursday.CIC's 2023-24 annual report revealed the commercial Crowns made record levels of capital investment across the province and delivered some of the most affordable utility costs in Canada to families, communities, businesses and industry.Saskatchewan's crown corporations, many of which were founded by Premier Tommy Douglas and his Cooperative Commonwealth Federation after forming government in 1944, serve the province well today, said Crown Investments Corporation Minister Dustin Duncan.“Saskatchewan’s Crown corporations are key contributors to our province’s success, delivering quality services and finding innovative ways to enhance a high standard of living for Saskatchewan families,” Duncan said in a press release.“The sector’s accomplishments in 2023-24 helped Saskatchewan advance its Growth Plan goals to ensure our province continues to have a strong economy and bright future.”CIC dividends accounted for all but $30 million of the province's 182 million budgetary surplus.The Crown corporations invested a record $1.883 billion in infrastructure in 2023-24 to enhance cellular and fibre optic connectivity across Saskatchewan, advance the Great Plains and Aspen Power Station projects and support system expansions for natural gas distribution and non-potable water supplies. These projects will help meet the demand forecast due to the province's future growth and entice private-sector investments.The sector also delivered additional value for its customers and Saskatchewan communities, investing in indigenous education and employment opportunities, energy efficiency programs, initiatives for newcomers and individuals with housing insecurity, support for many non-profit organizations including the lifesaving work of STARS Air Ambulance, and more.The consolidated debt ratio of CIC sits at 63.7%, which the province calls a "healthy financial capacity." It has risen each year since 2020-21 when it sat at 59.5%. The consolidated return on equity was 9.2%..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
Crown Investments Corporation had net earnings of $578.3 million and contributed $152 million to Saskatchewan's General Revenue Fund in dividends, the CIC announced Thursday.CIC's 2023-24 annual report revealed the commercial Crowns made record levels of capital investment across the province and delivered some of the most affordable utility costs in Canada to families, communities, businesses and industry.Saskatchewan's crown corporations, many of which were founded by Premier Tommy Douglas and his Cooperative Commonwealth Federation after forming government in 1944, serve the province well today, said Crown Investments Corporation Minister Dustin Duncan.“Saskatchewan’s Crown corporations are key contributors to our province’s success, delivering quality services and finding innovative ways to enhance a high standard of living for Saskatchewan families,” Duncan said in a press release.“The sector’s accomplishments in 2023-24 helped Saskatchewan advance its Growth Plan goals to ensure our province continues to have a strong economy and bright future.”CIC dividends accounted for all but $30 million of the province's 182 million budgetary surplus.The Crown corporations invested a record $1.883 billion in infrastructure in 2023-24 to enhance cellular and fibre optic connectivity across Saskatchewan, advance the Great Plains and Aspen Power Station projects and support system expansions for natural gas distribution and non-potable water supplies. These projects will help meet the demand forecast due to the province's future growth and entice private-sector investments.The sector also delivered additional value for its customers and Saskatchewan communities, investing in indigenous education and employment opportunities, energy efficiency programs, initiatives for newcomers and individuals with housing insecurity, support for many non-profit organizations including the lifesaving work of STARS Air Ambulance, and more.The consolidated debt ratio of CIC sits at 63.7%, which the province calls a "healthy financial capacity." It has risen each year since 2020-21 when it sat at 59.5%. The consolidated return on equity was 9.2%..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
