EPCOR dividend history — Ivey Energy Centre governance case (Jan 2022)

Interview with former EPCOR leadership (Bolton) on EPCOR's dividend policy and payments to its sole shareholder, the City of Edmonton.

Key passages: - "EPCOR has paid major dividends to its shareholder, the City of Edmonton. In 2000, the annual dividend was $70 million (47% of net income), which increased to $166 million by 2018 (56% of net [income])." - On the 2009 Capital Power IPO era: EPCOR held "the dividend (at $140 million) for four years so we could accumulate sufficient capital for a major" transaction. - "cumulative dividend payments to the City of Edmonton totalled $2.3 billion" (since 2000, alongside asset growth from $2.1B to $6.2B and employee growth 1,600 → 2,771).

Dividend milestones from this + EPCOR press releases: - 2000: $70 million - ~2009-2013: frozen at $140 million (Capital Power IPO capital accumulation) - 2017: ~$146 million (rising after drainage transfer) - 2018: $166 million - 2021: $171 million - 2022: $177 million - 2023: $185 million - 2024: $193 million - 2025: $201 million - 2026: $206 million - Cumulative to City since 2000: ~$2.3 billion (as of ~2020/21)

Original source: https://www.ivey.uwo.ca/media/uufl3dlq/iveyenergycentre_epcor-corporate-governance_jan2022.pdf Retrieved: 2026-07-04