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Tbaytel has announced its earnings for the year and Thunder Bay’s dividend with the release of its 2023 community report.

The company earned more than $219 million in 2023 and the city has received a fixed dividend of $18 million.

The dividend, “ultimately reduces local property tax bills by approximately 8.24 per cent,” said Tbaytel in a release. “Since its inception in 2004, Tbaytel has returned $375.9 million in dividends to the city.”

Outside of Thunder Bay, Tbaytel made a direct economic impact of $146 million in northern Ontario last year.

“In 2023, the Tbaytel for Good program, designed to support organizations, not-for-profits, and people making a difference in our communities, contributed close to $532,000 to organizations and events across northern Ontario,” added Tbaytel in a release. “Coupled with employee volunteer hours, these financial contributions supported some major events like Wake the Giant in addition to local organizations like the United Way and Our Kids Count.”

Tbaytel’s full 2023 report to the community can be found here.