REGINA – On Wednesday, SaskTel reported 2019/20 net income of $119.8 million on revenues of $1,283.7 million.
While that was a year over year revenue growth of $5.8 million, “reflecting continued wireless adoption and increased revenue from wireline growth services,” the net income line was a drop of 6%, compared to the prior fiscal year, mostly thanks to the hit from the Covid-19 crisis, said the company. The company’s fiscal year ends March 31st.
The provincial Crown corporation paid a dividend of $107.2 million to the province during the fiscal year, a decrease of $9.1 million from the previous year. During the last five fiscal years, SaskTel paid a total of $373.4 million in dividends while maintaining a debt ratio within industry standards, says the company’s release.
SaskTel’s revenue is composed primarily of wireless network services and equipment revenue (44.9%), maxTV service, internet and data (29.4%), and local access, enhanced services, and long distance (15.2%).
In terms of customer figures, SaskTel reported a 2.1% increase in broadband customers to 791,421 as of March 31st, a 1.4% increase in wireless subscribers to 618,188, an 11% increase in fibre to the home customers to 131,044, a 1.1% decrease in MaxTV customers to 111,382 and a 7.5% decline in wireline voice customers to 308,719.
SaskTel offers internet services in a total of 459 communities, with 319 communities having speeds up to 50 Mbps or faster. Its main competitors on the wireline side in Saskatchewan are Shaw and Access.
For the full release, please click here.
