Tuesday, December 12, 2017
Glad tidings to you Prince Rupert, from CityWest
On Monday, the company made its annual distribution of payment, once again directing 400,000 dollars to the City of Prince Rupert, its sole shareholder.
CityWest CEO Chris Marret paid tribute to the staff and customers of the communication company and made note how the company still resonates with Northwest residents even as they face increased competition across the Highway 16 corridor.
“In spite of the increased competitive pressure we faced this year, we remain a profitable company, and we are once again able to give our distribution payment to our shareholder,” ... “This is all thanks to our amazing staff, who have worked hard all year to provide a superior customer experience in all our markets." ... “For us, the customer experience is the top priority, we continue to hear from our customers that they keep coming back to us because of our superior customer service. We’re proud to keep providing that to all our valued customers in the North"
The City of Prince Rupert's Chief Financial Officer Corinne Bomben was on hand for the $400,000 distribution payment presentation.
Robert Long, the City of Prince's City Manager and the Board chair for CityWest observed as to how the CityWest payment will be used.
"As the sole shareholder of Citywest, the City welcomes another annual payment,” ... “This payment means a portion of the telecommunication services paid for by Rupertites will now be recirculated back into the City’s operational budget, supporting both municipal services and the local economy."
The 400,000 dollar amount for distribution seems to be the new norm for the exchange of Christmas money between the communication company and the City, this marks the third year in a row that the 400K amount has been set as the level of return on investment.
Since CityWest was turned into a separate corporation in 2005, the City of Prince Rupert owned communication company has delivered 7.1 million in dividend and distribution payments, along with the payment of over 1.8 million dollars in local taxes and levies.
You can learn more about this years distribution from the CityWest website.
See our archive page for a look back at past December announcements and other notes on the city owned company.