|CityWest CEO Chris Marett, presents this years distribution cheque to|
representatives of the CityWest Board and City of Prince Rupert
A healthy financial forecast for CityWest has the city of Prince Rupert owned communication company increasing its distribution payment to the City treasury this year.
That with the announcement of the 600,000 dollar payment announced today at the Third Avenue West offices of the communication company.
Last year at this time, CityWest had announced a Distribution payment of 400,000 dollars for the City, a figure that had been a consistent return to the City since 2013.
Chris Marett, CEO of CityWest. noted that the ability to increase its return to the city by 50% comes as the company expands its territory and subscriber base deep into the Bulkley Valley.
"We’re very happy to increase our distribution payment to the City this year. It’s an indicator of how well we’re doing, and how far we’ve come as one of the leading companies of Northern B.C.
We are entering the new year in a very strong financial position, and we are looking forward to providing our new and current customers with great products and services .
And, above all, we’re going to provide customers great experiences with our company."
And as 2019 draws to a close. the company is not resting on its plans for the year ahead.
Looking towards 2020, CityWest plans to expand its wifi services, offering new ways for customers to manage all their Internet-based devices on their home networks.
As well they will continue to move forward with their fibre footprint in Prince Rupert, as well as launching services in new communities like Kitwanga and South Hazelton
City Manager Bob Long outlined how the success of the company is serving as an economic engine for the region.
“As a community, we should be proud of the fact that we have a local telecommunications company, employing more local residents, circulating more local dollars into the regional economy, and providing adirect benefit to the shareholder, the City of Prince Rupert, and by extension to the community at large”
Since it was created as a standalone corporation in 2005, CityWest has delivered 8.1 million dollars in dividends and distribution payments, as well as over $1.9 million in local taxes and levies.
By cracking the 600,000 dollar mark this year, the company is edging closer to the days of the past, prior to 2005 when it regularly provided financial returns back to the city of over 1 million dollars.
For more notes on today's announcement see this information sheet from CityWest
For further items of interest on CityWest see our archive page here.