Export Development Canada to pay $969M dividend to federal government - InfoNews

Current Conditions

24.1°C

Export Development Canada to pay $969M dividend to federal government

Export Development Canada (EDC) President and CEO Benoit Daignault speaks during a business luncheon in Montreal, Wednesday, April 15, 2015. Export Development Canada is paying $969-million dividend to the federal government. THE CANADIAN PRESS/Graham Hughes
April 04, 2018 - 6:36 AM

OTTAWA - Export Development Canada is paying a $969-million dividend to the federal government this year.

The payment compares with a dividend of $786 million the agency paid last year and $500 million paid in 2016.

EDC generates revenue primarily from interest on loans, fees on its guarantee products, and premiums on its insurance products.

The crown corporation says it finished 2017 with $60 billion in assets and earned $1 billion for the year.

EDC's full annual report will be released in the second quarter.

News from © The Canadian Press, 2018
The Canadian Press

  • Popular vernon News
  • Comments
View Site in: Desktop | Mobile