Canada’s pandemic pickpockets
While Canadians were devastated during COVID-19, profitable corporations took government handouts. That money was supposed to help workers. Instead, it lined the pockets of many rich corporations.
We looked at dozens of Canada's biggest corporations to see if
they took public aid through Canada's Emergency Wage Subsidy
Through annual reports, financial documents and disclosures to lobbying registries, we came to some alarming findings. Most of these massive corporations are not only taking wage subsidies, but doing so when profitable enough to pay out millions in dividends to rich CEO shareholders.
70 CORPORATIONS TOOK
$2.8 billion in CEWS
54 WERE PROFITABLE
$12.5 billion in profits
64 PAID DIVIDENDS
$15.2 billion paid out
The Worst Culprits
Greed. That's the only way to describe accepting government aid meant for workers, and using it to payout dividends and profits to shareholders. Here are some of the most egregious examples of companies that abused the wage subsidy program.
Aecon Group Inc.
Sources: [CEWS, Profits, and Dividend]
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Disclaimer: We're by no means professional journalists, economists, or accountants. If you find any errors or miscalculations in our data, please let us know so we can correct immediately. You can contact us directly at email@example.com