Shareholder Relationship

ENMAX’s Shareholder, The City of Calgary


ENMAX is a private corporation incorporated under the Alberta Business Corporations Act whose sole shareholder is The City of Calgary. Calgary’s City Council acts in the capacity of the Shareholder on behalf of Calgarians.


ENMAX Board of Directors

ENMAX is governed by its Board of Directors, comprised of industry, business and community leaders elected annually by our Shareholder. Our Board is accountable to our Shareholder to ensure we operate in a prudent and transparent manner that reflects ENMAX’s commitment to accountability and corporate responsibility.

ENMAX’s Board selection and appointment process is guided by a skills matrix to ensure we have the director expertise and experience required to govern ENMAX effectively.


Shareholder Engagement

Ongoing communication and engagement with The City of Calgary as the Shareholder is an integral part of ENMAX's philosophy of good governance. We regularly communicate with our Shareholder on a variety of business matters and our Board and executive team meet with Calgary's City Council quarterly, including convening an annual public Shareholder Meeting and annual meeting to review our business plans. The Chair of our Audit and Finance Committee also meets with The City's Audit Committee annually.

Creating Shareholder Value

ENMAX does not receive funding from The City of Calgary—we generate our own revenue and profits, and maintain a separate financial standing and credit rating. The following table sets out the dividends ENMAX has declared and paid to The City of Calgary since 2009.

2023 95
2022 82
2021 62
2020 58
2019 54
2018 50
2017 40
2016 48
2015 47
2014 56
2013 60
2012 67
2011 55
2010 55
2009 61

Corporate Governance

​​​ENMAX Corporation's Board of Directors and executive team are committed to high standards of corporate governance. We are committed to providing leadership in the governance of our organization and believe sound corporate governance contributes to shareholder value, trust and confidence in ENMAX.
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Our Plan of Compliance

The Code of Conduct Regulation must be followed by all owners of electricity distribution systems, their affiliated retailers and their regulated rate providers in Alberta.
View compliance plan