Bluewater Power delivers hefty jolt

The six municipalities that own Bluewater Power are getting a big, fat cheque. The utility has declared a dividend of $1.94 million for the 2018 operating year, to be divided among its municipal shareholders. As the three largest, Sarnia will get $1.

The six municipalities that own Bluewater Power are getting a big, fat cheque.

The utility has declared a dividend of $1.94 million for the 2018 operating year, to be divided among its municipal shareholders.

As the three largest, Sarnia will get $1.67 million, Petrolia $143,000 and Point Edward $65,000. Warwick, Brooke-Alvinston and Oil Springs each get between $42,000 and $6,000.

Bluewater Power said the operating dividend is the largest in its history and almost 15% higher than the previous year.

Since its inception in 2000, the local utility and its subsidiary businesses have now paid out almost $45 million to its shareholders, said president and CEO Janice McMichael-Dennis.