Sask. getting back millions from CIC increased earnings
Despite their individual challenges Saskatchewan’s Crown corporations showed a healthy profit this past year.
The Crown Investment Corporations (CIC) annual report shows for the 15 months that ended March 31, 2016, net earnings were $342 million, up by $179 million from 2014.
It meant dividends of $297 million will be given back to the people of Saskatchewan into the general revenue fund.
During this fiscal year, $1.8 billion was spent on capital, $1 billion of that by SaskPower as it looks to address its distribution growth, infrastructure upgrades, and build a new power plant.