Google Translate Disclaimer

A number of pages on the Government of Saskatchewan`s web site have been professionally translated in French. These translations are identified by a yellow text box that resembles the link below and can be found in the right hand rail of the page. The home page for French-language content on this site can be found here:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

The results of software-based translation do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos, and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

Crown Investments Corporation Tables 2017-18 Annual Report with Consolidated Crown Results and STC 2017-18 Annual Report

Released on July 13, 2018

Saskatchewan’s Crown corporations posted solid financial results in 2017-18.  The Crown sector recorded net earnings of $503 million for the fiscal year ended March 31, 2018, an increase of $104 million from the previous year.

“Crown profitability was challenged through increased competition, environmental regulations, economic fluctuations, and the need for infrastructure investment,” Crown Investments Corporation Minister Joe Hargrave said.  “The sector met those challenges, and remains dedicated to providing safe and affordable utilities, excellent customer service, and technological advancements to Saskatchewan people, now and in the years ahead.”

Crown Investments Corporation delivered $205 million in dividends to the General Revenue Fund (GRF) in 2017-18 on behalf of the Crown sector, surpassing the budgeted goal of $180 million.  Over the past five years, the sector has contributed $1.3 billion in dividends to the GRF.

The Crowns continued to address infrastructure renewal and improvement in 2017-18, investing $1.6 billion in capital projects, and have forecast an average $1.4 billion per year over the next five years to meet the province’s demand for safety, growth and renewal.

The Saskatchewan Transportation Company (STC) also tabled its 2017-18 annual report.  The report reflects the final period of vehicular operations and the results of wind-up activities for the period ended March 31, 2018.

Total net proceeds from the sale of vehicles, equipment, land and buildings up to March 31, 2018 were $27.6 million, resulting in a dividend payment of $22 million.  Negotiations on one final property sale are ongoing.  The balance of net proceeds will be provided as a dividend upon dissolution.

“With the wind-up of STC nearing completion, we are confident that the government and taxpayers of Saskatchewan have received the best value possible from the sale process,” Hargrave said.

The 2017-18 Crown Investments Corporation Annual Report is available online at www.cicorp.sk.ca.  The 2017-18 Saskatchewan Transportation Company Annual Report is available online at www.stcbus.com.

-30-

For more information, contact:

Joanne Johnson
Crown Investments Corporation
Regina
Phone: 306-787-5889
Email: jjohnson@cicorp.sk.ca
Cell: 306-533-5519

We need your feedback to improve saskatchewan.ca. Help us improve