One of CU's missions during the 1970s was to respond to environmental issues. Further information regarding the taxation of eligible dividends is also available from the Canada Revenue Agency.Please also note that effective January 10, 2019, Canadian Utilities’ dividend reinvestment plan was suspended.Check out the latest on our performance in our quarterly investor fact sheet.*Dividend amounts adjusted to reflect stock splits. According to company historian Len Stahl, Coste had become known as "the father of the natural gas industry in Canada, having ... brought in the first commercial discovery of natural gas in Ontario in 1889." CU was also pursuing acquisitions of independent power plants in Western Europe, Australia, and the United States. Canadian Utilities Limited (CU) is Alberta-based with a worldwide organization of innovative companies all belonging to and contributing significantly to the strength of the ATCO Group. 3, went out of control, spilling oil onto the countryside for six months before igniting in September, and finally being subdued. Moreover, Canadian Utilities' operations were soon focused solely in Alberta, when the Saskatchewan Power Commission began buying up all the smaller utilities with a vision of nationalizing the industry in that province. Over the year, Canadian Western gained a client base of 3,400, whom it served from 20 wells yielding gas in the Bow Island field. At that time, due to changes in the Canadian tax structure, International Utilities also established itself as a U.S. corporation resident in Canada, hoping to blunt criticism of foreign ownership of the Alberta properties. As a result of these measures, Canadian Western's revenues dropped by 10 percent. You should consult your tax advisor for advice with respect to the income tax consequences of receiving eligible dividends. We see them around but we don't know what goes on behind the scenes. Other safety measures were installed as well. On June 14, 2013, Canadian Utilities effected a two-for-one stock split. To alleviate this shortage, Canadian Western began an effort to develop new supplies of gas. Toward that end, the company formed an environmental planning commission, headed by Gordon R. Cameron, which worked to ensure that CU was respecting the environment by modernizing facilities to emit fewer pollutants. Eighty-six days later, the completed pipeline was the third largest gas pipeline in North America and the most northerly gas transmission line in the world. The company used a portion of these funds to push forward with efforts at rural electrification. One innovation involved the storing of excess gas resulting from oil extraction at Turner Valley, gas that had previously been burned off as a waste product. Many employees of the gas and electric utilities of Alberta left their jobs to join the armed forces, and materials and supplies were also diverted to the war effort. Copyright (c) 2019 Company-Histories.com. Northwestern Utilities also faced a spectacular misfortune in 1932, when the leak of a Northwestern gas main in downtown Edmonton caused the destruction of a leading hotel in the city and several surrounding structures. Moreover, the company investigated such novel ideas as using natural gas to power automobiles. In the spring of 1980, ATCO paid $325 million for International's 58 percent share in the company, and installed its chairman as the chief executive officer of CU. In the wake of this purchase, the Calgary Power Company (which then changed its name to the TransAlta Utilities Corporation) offered to buy up the 42 percent of CU's shares that ATCO did not own. On August 29, 2005, Canadian Utilities effected a two-for-one stock split. By the end of 1994, CU was servicing nearly 900,000 utility customers. The earliest enterprise of Canadian Utilities Limited was Canadian Western Natural Gas Company, Ltd., which was founded in the early 1900s by geological engineer Eugene Coste. Another push for efficiency was made in 1998 when CU decided to merge its natural gas subsidiaries, Canadian Western Natural Gas Company Limited and Northwestern Utilities Limited, and to create an intra-Alberta transmission company and a province-wide distribution company. These earnings continued throughout the early 1990s. At this time, International Utilities also returned to residence in the United States. In 1940, Northwestern installed heating, cooking, and water heating equipment at two air training schools being constructed in the area. Find the latest CANADIAN UTILITIES LTD., CL.A, (CU.TO) stock quote, history, news and other vital information to help you with your stock trading and investing. In anticipation of the new competitive environment, CU initiated various streamlining programs aimed at cutting costs and improving efficiency.