Tbaytel releases 2022 community report, announces $18 million dividend to city

Tbaytel excited to launch 5G for Thunder Bay powered by Ericsson
Tbaytel excited to launch 5G for Thunder Bay powered by Ericsson

THUNDER BAY – NEWS – Tbaytel released Expanding with Stronger Connections: 2022 Report to the Community on Tuesday, April 25. The report highlights key accomplishments from the past year, Tbaytel’s strategic direction and summarizes financial information. It also highlights a number of new products and services as Tbaytel continues to make strategic decisions and investments to bring the latest in telecommunications technology to northern Ontario.

“Whether it’s taking care of our neighbourhood with Tbaytel for Good, modernizing our networks to provide the latest technology while also driving efficiencies to help our environment, ensuring continued financial success or supporting the growth of our employees through training and skills development, Tbaytel was able to expand with stronger connections in many ways during 2022,” said Tbaytel President and CEO Dan Topatigh.

“With a dedicated workforce committed to our customers and region, strong financial performance and the trust of our customers throughout northern Ontario, Tbaytel looks forward to another great year in 2023.”

More than $214 million in revenue was earned for 2022 demonstrating the strong support Tbaytel has from its loyal customer base, which directly correlates to a fixed dividend of $18 million and performance dividend of $239,000 to the city of Thunder Bay that ultimately reduces local property tax bills by approximately 8.25 per cent. Since its inception in 2004, Tbaytel has returned more than $357.9 million in dividends to the city. Along with this exceptional financial performance, in total Tbaytel made a direct economic impact of $145.7 million throughout Thunder Bay and northern Ontario last year.

In 2022, the Tbaytel for Good program, designed to support organizations, not-for-profits, and people making a difference in our communities, contributed more than $416,000 to 118 organizations and events in 13 communities. Coupled with employee volunteer hours, these financial contributions supported some major events like Wake the Giant and the Scotties Tournament of Hearts in addition to local organizations like the United Way and PRO Kids.

This past year saw Tbaytel continue to bring its products and services to more people than ever before with the completion of LTE across our wireless serving territory and the design and build of 5G in Thunder Bay with launch and planned expansion within the city and regional communities throughout 2023. Along with welcoming the community of Marathon to areas we service with Fibre, Tbaytel brought Fibre to 11 areas in our region in 2022, adding nearly 5,100 addresses to our Fibre footprint including the final installation of our federally-funded project to the areas of One Island Lake, Gorevale, Hawkeye Lake, Intola, Trout Lake and Barnum Lake. We’re proud to say that 99.4 per cent of the city of Thunder Bay now has access to Tbaytel Fibre.

“Tbaytel is proud to be able to deliver such strong results for the people of Thunder Bay and all of northern Ontario by not only adapting to the constantly evolving telecommunications industry but thrive,” said Tbaytel Municipal Board Chair Scott Potts.

“I would like to thank Tbaytel’s President & CEO, the executive management team, our board of directors and all Tbaytel employees for their hard work and commitment.”

To view or download Expanding with Stronger Connections: 2022 Report to the Community please visit tbaytel.net/communityreport

Article was updated: Dividend is $18 million not $18.2 million.

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