Saskatchewan’s Crown sector secured just over half-a-billion in earnings for the 2018-19 fiscal year and provided a 25 per cent increase in dividends to the province.

Coming in at $540.6 million, the yearly earnings show an increase of $37.6 million over last year, subsequently increasing the dividends to the General Revenue Fund from $205 million in 2017-18, to $256 million in the current year.

Joe Hargrave, Crown Investments Minister, said the strong financial results from the Crown sector is proof the model works.

“The Crowns deliver not just financially, but also with excellent customer service, providing affordable and safe utilities, cost-effective insurance programs, support for innovative technology start-ups and first-class entertainment opportunities,” said Hargrave.

In a recent news release, the government shared over the past five years, $1.9 billion in earnings were reported, resulting in $1.2 billion in dividends.

Over the next five years, it was stated $1.7 billion will be allocated annually to capital renewal and expansion, up from the $1.4 billion investment in 2018-19.

Further, the Crown sector proclaims continued interest in numerous province-wide initiatives including Saskatchewan’s Prairie Resilience framework, ongoing implementation of the rural wireless initiative, partnerships with rural municipalities on water infrastructure projects and working with Saskatchewan business to develop a competitive private sector, on a global scale.

Additionally, after the official dissolution on March 31, 2019, this past year marks the final annual report for the Saskatchewan Transportation Company.