The Board of Directors
of the Northwest Territories Power Corporation has declared a total
dividend of $6,367,672 for the year ending March 31, 2001.
Board Chairman,
Gordon Stewart, said that of the total dividend, $4,068,306 was paid
to the Government of Northwest Territories and $2,299,366 was paid to
the Government of Nunavut.
'This allocation
is based on the proportion of each Governments level of equity as approved
in the Transition Agreement in respect of the division of assets and
liabilities' said Stewart.
This brings to more
than $54 million the amount of dividends that the NWT Power Corporation
has paid since 1989. Over this period the dividend payments have funded
the Territorial Power Subsidy Program that subsidizes the power bills
of residential and small business customers.
For further
information contact:
Peter
Watt
Public Relations Officer
(867) 874-5215
