Governance 

EPCOR and its Shareholder have been nationally recognized for the quality of the corporation’s governance. As part of a continuing commitment to excellence in corporate governance, EPCOR complies with the applicable rules and guidelines for the disclosure of corporate governance practices established under National Instrument 58-101.

Governance features

• The Board is appointed by its sole common Shareholder, the City of Edmonton.
• The Board operates independently of the Shareholder with full authority to make strategic business decisions. There are no employees or elected representatives of the City on the Board.
• The Board is led by an independent Chairman; Directors are respected business leaders from across Canada.
• Operating under a clear Charter of Expectations, the Board approves the goals of the business – and correlating objectives and policies – and, evaluates management’s performance.
• The selection, assessment and evaluation process for Directors seeks to match individual skills with EPCOR’s needs. An independent consultant and skills matrix are employed.
• Innovations in oversight and risk management include establishing a special Board committee to oversee development of EPCOR’s largest capital project.

Shareholder return

EPCOR’s common dividend is set by policy. The policy saw the dividend grow by $10 million annually between 2001 and 2004 until it reached 60% of earnings available to common shares of EPCOR in the applicable year. The dividend continues to grow at a rate equal to inflation.

Dividends paid to the City of Edmonton - 1996 to 2009