Synergy North is hoping to provide dividents to the cities of Kenora and Thunder Bay as early as this summer.
The two municipalities own the electrical utility, but because of their initial agreement, they were’t able to collect dividends.
Rene Gallant is president and CEO of the company says they hope that changes this year.
“My objective is to propose to our board a dividend at the June board meeting, assuming we can get all these pieces in place, so that it can start right away,” Gallant told Kenora city council at its Committee of the Whole meeting on Tuesday.
Gallant says 2025 was a very good year for Synergy North with record earnings, record capital spending and no employee time lost time.
“Record capital expenditures in 2025…that is driven by growth. We’re not seeing the same level of growth from our Kenora assets and the demand of Kenora customers as we’ve seen in Thunder Bay. Primary growth has been in Thunder Bay.”
Gallant adds they spent $1.7 million dollars on capital and operating expenditures in Kenora in 2025.
