Revenue from Claystone will help fund infrastructure and services across Beaver region
Claystone Waste Ltd. today announced it has distributed a $3 million 2023 dividend to its shareholding municipalities of Beaver County, the Village of Holden, the Village of Ryley, the Town of Tofield, and the Town of Viking.
As a municipally controlled corporation, Claystone Waste provides revenue to local communities through the municipal dividend, subsidized waste services, and grants to support community organizations.
Meryl Whittaker, Chair of the Claystone Waste Board of Directors, says providing municipal dividends is a key priority of the waste management company.
“Claystone is a community-owned and community-focused enterprise, and we are proud to provide our shareholding municipalities with more revenue to support local priorities across the Beaver region,” says Whittaker. “Through the municipal dividend, Claystone is not only supporting the region’s public services but helping to create more local jobs and drive economic development and investment in the region.”
Dividends from Claystone Waste can be used by Beaver region municipalities to support infrastructure, community programming, economic development initiatives, and other priorities of municipal councils that would otherwise have to be funded by local taxpayers. The $3 million dividend represents an approximately $300 per person benefit to every resident of the Beaver region in 2023.
Pierre Breau, Chief Executive Officer of Claystone Waste, says the company is looking forward to the future as it seeks new opportunities and more revenue in a changing waste management landscape.
“As the waste management industry evolves, Claystone is committed to evolving along with it,” says Breau. “This means pursuing innovations in our industry including waste-to-energy conversion, advanced recycling technologies, and waste sorting and separation systems that minimize environmental impact. Claystone has taken steps to deploy these advanced technologies with our new composting project and feasibility study into the development of a bioenergy facility.”
Since 2015, Claystone Waste has provided over $25 million back to local communities through various forms of support including dividends, grants, sponsorships, and other forms of community partnerships.
The share of the $3 million dividend for each shareholding municipality is apportioned according to a formula based on each community’s population. The respective shares of the 2023 dividend are as follows:
Beaver County: $ 1,407,106
Town of Tofield: $ 620,758
Town of Viking: $ 402,773
Village of Ryley: $ 299,580
Village of Holden: $ 269,582
Media contact for further information:
Communications Manager: Anne.Ruzicka@claystonewaste.com