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.

Meet the board

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.

ENMAX will hold its Annual General Meeting on Friday, May 23, 2025 from 9:30 to 10:15 a.m. The meeting will take place at The Confluence Historic Site and Parkland (750 - 9 Avenue SE Calgary T2G 5E1). Should the public wish to attend in person or virtually, please register in advance by emailing boardofdirectors@enmax.com

Watch ENMAX's 2024 AGM

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.

YEAR	DIVIDEND GENERATED ($MILLIONS)
2024	103
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.

Learn more

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.