A new dividend model voted in by councillors last night means more money from Tbaytel.
The city-owned company will pay 17.25 million dollars in a fixed dividend this year, with that figure rising by a little bit more in the years to follow.
The telecommunications company generally pays 17 million dollars, that extra money will now head to the city’s stabilization reserve fund, which is currently on its last legs.
Tbaytel officials say they’re able to pay the increased price.
