Between 2016 and 2025, the water dividend ranged from $106 million to $114 million, or more than $1.1 billion cumulatively. It bears mention that all this occurred on the watch of aggressively progressive former mayors Naheed Nenshi (who recently said he knew nothing about the sad state of his city’s water system) and Jyoti Gondek (who recently had the RCMP execute a search warrant on her house for unspecified reasons). Now, two years after the first Bearspaw collapse, the utility is set to make its largest-ever dividend payment of $130 million. Extracting such sums from a water system clearly in need of immediate repair, the expert panel deadpanned, “is inconsistent with best practice.”