68 Canadian companies pay out billions in dividends while receiving government subsidies

News

Published: 7Dec2020

A recent investigation reveals that as 68 publicly-traded Canadian companies received at least $1.3 billion government assistance through the Canadian Emergency Wage Subsidy (CEWS), they paid out more than $5 billion in dividends during the same time period. According to Professor Preetika Joshi, certain countries were more discerning than others when distributing corporate subsidies. Without a mechanism in place to ensure a more careful review of corporate financial statements, Canada inevitably stumbled in its rollout of CEWS.

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