Tribute is a Canadian energy company with a primary focus on adding value to shareholders by exploring for, developing, and maintaining a long-term interest in energy projects in Canada. Tribute’s focus is to add value to shareholders by developing and maintaining a long-term interest in both natural gas and energy storage projects and renewable energy projects in Canada to drive utility quality earnings and stable cash flows.
Tribute’s business plan has evolved to reduce its dependency on the gas storage market and has been pursuing renewable energy projects since 2005. Its Business Plan is to build upon its current asset base to identify, permit, develop, and construct renewable generation projects that meet its threshold return criteria. Tribute creates value by identifying project opportunities, providing the expertise to develop these projects and maintaining an interest in the completed assets to build long-term stable utility quality cash flow from a strong and diversified energy related asset base across Canada. Having achieved project income and cash flow from some of its projects, Tribute is poised to provide a return to shareholders and further work towards its goal to become one of the leading independent, market-based energy providers in Ontario.
As a small publicly traded company, Tribute enjoys a unique position in the Canadian energy marketplace. Tribute has the capability of being nimble – responding quickly to opportunities; it has the right mix of people to propel the growth process; and its people have the established contacts, experience and related expertise to bring together all the requirements.
Tribute believes that it is well positioned to take advantage of opportunities in the ongoing restructuring of the energy markets in Ontario and North America.
Tribute strongly values the support of our investors and remains committed to increasing the value of their investment and providing returns to investors through dividend payments, the first of which was paid out in February 2014 at the rate of $0.01 per common share.
The Board of Directors and Management are examining all options to deliver value to shareholders from our existing asset base.
Tribute has several renewable energy projects in addition to some dormant gas storage projects in the development phase. Tribute is examining other uses for the natural gas storage pools, such as Compressed Air Energy Storage. In 2008, Tribute successfully financed and built its first natural gas storage project with equity contributions, both on time and on budget and has maintained a 25% equity stake in the pool. Tribute also completed the initial development work for the Port Dover/Nanticoke Wind Project prior to selling it in 2009 with an option to own an equity share, which it has recently sold to the Project owner. In addition, Tribute has recently entered into the tidal power market through the acquisition of a British Columbia tidal power company, which is in the development stage, and advancing rapidly.