Episode Details

Enmax, Calgarys utility company, delivered a $64 million dividend in 2025, a significant drop from the previous years $103 million. This is the first time the dividend has fallen below $100 million since 2024. The new dividend policy, which considers a ten-year average for more predictable payouts, contributed to this change. Despite the lower payout, Enmax reported solid results with a 28% increase in net earnings to $440 million. The company has grown the citys stake from $280 million in 1998 to $3.35 billion, along with $1.6 billion in total dividends. The mayor is considering selling Enmaxs U.S. subsidiary, Versant Power, to cover infrastructure costs, while Enmaxs CEO emphasizes the benefits of the new dividend policy for maintaining a strong balance sheet and funding grid investments.

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