The chief executive officers of 68 Canadian companies that paid out dividends while receiving the pandemic wage subsidy earned an estimated $30 million in dividends themselves during the quarters in which their firms accepted the Canada Emergency Wage Subsidy (CEWS), according to an analysis of share ownership stakes by the Financial Post.
Earlier this month, a Post investigation revealed that at least 68 companies that received more than $1 billion in CEWS — a subsidy designed to help companies that have seen their revenue drop significantly cover payroll costs and keep employees in their jobs — paid out more than $5 billion in dividends over the past two quarters.
