Tbaytel pays dividends to City of Thunder Bay.

Tbaytel announced March 27 that it will pay $17 million in fixed dividends to the City of Thunder Bay in 2015, as well as $131,377 in performance dividends based on 2014 operating results.

"Tbaytel's annual dividend contribution demonstrates the company's significant growth and expansion over the course of the last decade and it also reinforces the sound business strategy adopted by Tbaytel every year," said board chair Jack Jamieson in a statement.

"Tbaytel's ability to consistently deliver a return of this level while balancing capital requirements, growth opportunities and available cash flow is a testament to the positive direction Tbaytel is moving in."

The city-owned telecom firm stated it has contributed more...