Tbaytel – $18 Million Dividend to City of Thunder Bay
THUNDER BAY – BUSINESS – Tbaytel hosted its annual general meeting virtually for the first time ever on Monday, June 22 and released its Beyond Boundaries: 2019 Report to the Community. The report highlights key accomplishments from the past year, Tbaytel’s strategic direction, and summarized financial information.
Financially, Tbaytel generated $198.6 million in revenue for 2019 with an $18 million dividend to the city of Thunder Bay that reduces local property tax bills by 9.3 percent. The city also received an additional $568,000 performance dividend. Since its inception in 2004, the Tbaytel Municipal Service Board has paid nearly $300 million in dividends to the city.
“Tbaytel’s financial results demonstrate the positive growth and successes in 2019. This can be attributed to our world-class networks and to our dedicated, skilled workforce that is made up of over 400 employees in Thunder Bay and the region” said Tbaytel Municipal Service Board Chair Jack Jamieson.
“Our 2019 results are proof of Tbaytel’s continued success and commitment as an employer, a good neighbour, community partner, and great service provider for Northern Ontario.”
The past year saw Tbaytel provide increased Wireless and Internet coverage for dozens of rural areas throughout Northern Ontario, adding LTE to 25 new areas in its Wireless Network. Work was completed on a multi-million dollar project bringing Wireless Internet to 48 new areas from Kenora to Heyden.
Tbaytel continued to bring its state-of-the-art Fibre technology to neighbourhoods across Thunder Bay, with 90 percent of the city expected to be connected by the end of 2020. Tbaytel was also excited to bring Fibre to the communities of Dryden and Kenora last year.
Being a good neighbour continued for Tbaytel in 2019 through its Tbaytel for Good sponsorship program, contributing more than $562,000 to 158 organizations in 14 communities. Some highlights include the Wake the Giant Music Festival, Our Hearts at Home Cardiovascular campaign, and the Special Olympics Canada Winter Games Thunder Bay 2020.
“Along with the opportunity to share our successes over the past year, this community report is a chance for Tbaytel to renew our commitment to our customers and to the communities we serve,” said Tbaytel President and CEO Dan Topatigh.
“As a locally owned and operated business, Tbaytel strives at every level of our organization to make Northern Ontario better. We are proud of the hard work and dedication of all of our employees, executive management team, and board of directors found in this year’s community report.”
To view or download Beyond Boundaries: 2019 Report to the Community please visit tbaytel.net/communityreport