PRINCE RUPERT – Municipally owned network operator CityWest has transferred its annual distribution payment of $400,000 to its sole shareholder, the City of Prince Rupert.
Since it spun out into a corporation in 2005, CityWest has provided the city of Prince Rupert with $7.5 million in dividends and distribution payments, as well as over $1.8 million in local taxes and levies, the company said in a release. CityWest employs over 80 people and provides internet, phone and television to more than 15,000 business and residential customers.
Over the past year, CityWest has expanded into more communities in the Bulkley Valley, from Lake Kathlyn to Houston, which boosted both customers and revenue, added the company. It has also deployed fibre-to-the-home technology in Prince Rupert, and has invested “significantly” to improve the back-end network in Terrace and Kitimat, which will enhance the experience for customers in all markets.
“This payment is the outcome of the decisions we’ve made over the past few years,” said CityWest CEO Chris Marett, in the release. “We are seeing great results in our Bulkley Valley markets, where we built fibre-to-the-home technology in underserved areas. And as we improve our technology in our existing markets, we expect to see more growth in the years to come.”
