Aquatera Utilities has declared over 3.5 million dollars in dividends from 2013. 2.2 million of that amount is mandatory dividends, while the remainder is discretionary. CEO Bernd Manz says the dividends are paid out to their three main shareholders – the city, the county, and the town of Sexsmith.
“It is Based on their shareholdings. And they will use it for whatever purposes they decide. The city, as the major shareholder, receives three-quarters of the total dividends that we provide. And so it is part of our commitment to increasing value to shareholders, and to create some flexibility in terms of what they can use that for.”
The discretionary dividends require unanimous approval from the shareholders. The county and town of Sexsmith have already approved them, while city council will be asked to give its consent on Monday night.