2023 Financial Performance
Elexicon Corporation had a strong financial performance in 2023 and again has provided its shareholder municipalities with a solid and consistent dividend distributions. Net income after net movements in regulatory balances for the year ended December 31, 2023 was $0.6 million.
After normalization for the unrealized loss, the net income after net movements for the year ended December 31, 2023 was $8.0 million and the Corporation paid $6.1 million to shareholders for reinvestment into their communities. Elexicon Corporation continued to deliver economic benefits to local communities and made capital investments of $89.4 million.
$169.6 million
in economic value and benefits delivered in 2023. The value created by Elexicon Corporation is fundamentally measured in terms of financial performance and operational excellence. In addition, the Province of Ontario and the communities we serve derive other economic benefits that, in 2023, amounted to approximately $170 million.
$89.4 million
in capital expenditures in 2023. Investments in electricity distribution infrastructure to serve the needs of our growing communities.
$57.5 million
in operating expenses in 2023. Property taxes, water costs, facility costs, professional fees, local purchasing, employee compensation and benefits, etc.
$6.1 million
in dividends paid to or payable to our shareholders for reinvestment in our communities.
$16.6 million
in payments to capital providers and government, and interest and payments in lieu of taxes.
