Provincial funding provided to Township of Pelee and five municipalities after flooding events
Up to $730,000 will be provided through the Municipal Disaster Recovery Assistance program to help pay for emergency response costs and the repair and rebuilding of critical infrastructure, the government announced on June 20.
The funding comes after flooding events caused significant damage in August 2023 and April 2024.
The township of Pelee will receive up to $46,000, while the Timiskaming District will receive $648,000.
Rob Flack, Minister of Municipal Affairs and Housing, said the financial support will help repair local infrastructure, protect jobs and keep people safe.
'Our government is stepping up to support our municipalities suffering from extensive damage due to unexpected natural disasters,' said Flack in a statement.
The flooding in August 2023 resulted in significant costs to the Township of Pelee, such as fuel to operate pumps and repair damaged roads.
In April 2024, heavy rainfall combined with frozen ground resulted in flooding which damaged municipal infrastructure in the Township of Armstrong, Township of Chamberlain, Municipality of Charlton and Dack, Township of Kerns and Township of McGarry.
Municipalities receive funding under the program if operating and capital costs are over and above regular municipal budgets and linked directly to the disaster.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
an hour ago
- Globe and Mail
3 High-Yielding Dividend Stocks You Can Buy for Less Than $100
Key Points These stocks all yield more than three times the S&P 500 average. Together, they can help diversify your portfolio while adding plenty of income and stability over the long haul. 10 stocks we like better than Realty Income › Want some modestly priced stocks that also pay high dividends? It can be challenging finding a quality stock that fits that criteria, but there are three that can be excellent options worth considering today: Realty Income (NYSE: O), AT&T (NYSE: T), and Toronto-Dominion Bank (NYSE: TD). These stocks are all trading at less than $100 per share, offer high yields that are more than three times the S&P 500 (SNPINDEX: ^GSPC) average of 1.2%, and can be relatively safe investments to simply buy and hold for the long haul. Here's a look at how much these stocks pay, and why they are good investments to put into your portfolio right now. 1. Realty Income On Monday, real estate investment trust (REIT) Realty Income closed at a price of $57.53. This year, the stock has risen by nearly 8%, giving investors some decent gains to go along with a fairly high yield of 5.6%. Not only is Realty Income's high dividend appealing, but the REIT makes payments on a monthly basis. Unlike most other dividend stocks, you can collect a much more frequent payout with this investment. The REIT also prides itself on stability and consistency; it has declared a dividend for 660 straight months. In June, it also announced that it would be increasing the rate of its monthly dividend for the 131st time in its history. This year looks to be another solid year for the business, as Realty Income expects occupancy levels of more than 98% and same-store rent growth of around 1%. Its funds from operations for the first three months of the year came in at $1.05, up from $0.94 in the same period last year. The company is diversified across 91 industries and is in multiple markets, making it a fairly safe investment to put in your portfolio. For buy-and-hold investors, this can be a no-brainer income stock to hang on to. 2. AT&T Telecom giant AT&T trades at around $30 per share and is a modestly priced stock you can pick up right now. Despite soaring more than 50% over the past 12 months, the dividend stock only trades at 17 times its trailing earnings, which is modest in comparison to the average stock on the S&P 500, which trades at a multiple of 24. AT&T's dividend yields 3.8%, and while the company hasn't raised its payout for multiple years, it may only be a matter of time before that happens. Its financials have been looking good, with the company expecting free cash flow of at least $16 billion this year -- far more than the $8.3 billion it pays out in dividends on an annual basis. AT&T also makes for an underrated growth stock, as the company is in the process of acquiring Lumen 's Mass Markets fiber business, which will nearly double the amount of fiber locations it is in by the end of 2030, to around 60 million. If you want a combination of a high yield and some good growth potential, AT&T is a stock worth considering today. 3. Toronto-Dominion Bank Toronto-Dominion Bank is a top Canadian-based bank that can make for a reliable long-term investment. It yields 4.1%, which is a fairly strong payout for a top bank stock. Over a period of five years, TD has increased its quarterly dividend by 42%, for an average compounded annual growth rate of 7.2%. The bank has operations in the U.S., but due to lax anti-money laundering procedures, it was hit with a $3 billion fine last year and has an asset cap in place in the U.S. as a result of its settlement with regulators. But as a long-term play, this can still make for an excellent investment. TD is among the largest banks in North America, and over the trailing 12 months, it has posted a profit of 16.8 billion Canadian dollars on revenue totaling CA$58.8 billion, for a terrific profit margin of around 29%. Trading at around $74 and just 1.5 times its book value, TD can be a good value pickup for income investors today. Should you invest $1,000 in Realty Income right now? Before you buy stock in Realty Income, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Realty Income wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,764!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $980,723!* Now, it's worth noting Stock Advisor 's total average return is1,048% — a market-crushing outperformance compared to179%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 7, 2025
CTV News
3 hours ago
- CTV News
B.C. manufacturer creates first hybrid electric logging yarder
Vancouver Watch A Campbell River manufacturer that specializes in building machines for the forestry industry, has developed the first ever hybrid electric logging yarder.
Globe and Mail
4 hours ago
- Globe and Mail
Galway Metals Announces Final Option Payment for Royalty Buy Back at Its Clarence Stream Property
TORONTO, July 11, 2025 (GLOBE NEWSWIRE) -- Galway Metals Inc. (TSXV: GWM) (' Galway ' or the " Company") is pleased to announce that it intends to settle the sixth (6 th) and final of six (6) payments (the ' Sixth Partial Payment ') due in consideration of an agreement previously announced on July 21, 2020 (the ' Agreement ') by the cash payment of $125,000 and the issuance of 974,026 common shares in the Capital of the Company (' Shares ') at a deemed price equal to $0.385 per Share for a total deemed price of $375,000. Pursuant to the Agreement, the Company bought back a two percent (2.0%) net smelter returns royalty (the ' Royalty ') from an arm's length third party royalty holder (the ' Former Royalty Holder'), covering certain mineral claims at the Company's Clarence Stream property in southwest New Brunswick (the ' Property '). The Agreement provided for a total purchase price of $3,000,000 in six equal annual instalments of $500,000, with each partial payment representing the purchase of one-sixth (1/6) of the Royalty (each a ' Partial Payment '). The first Partial Payment was settled on Closing in 2020 through the issuance of 434,783 Shares to the Former Royalty Holder at a deemed price equal to $1.15 per Share for a total deemed price of $500,000. Pursuant to the Agreement, each subsequent $500,000 Partial Payment was to be paid as follows: (i) $125,000 in cash; and, (ii) the remaining $375,000, at the sole election of the Company, paid either in cash, through the issuance of Shares, or a combination thereof as shall equal $375,000. The Shares will be subject to the statutory hold periods of four months and one day from the date of issuance. Completion of the issuance of the Shares is subject to the receipt of all regulatory approval including the final approval of the TSXV. About Galway Metals Inc. Galway Metals is focused on creating significant per share value through the exploration and sustainable development of its two 100%-owned projects in Canada. Galway's flagship project, Clarence Stream, is one of the most important gold districts in Atlantic Canada as it hosts a large, high-grade gold resource in SW New Brunswick. Also important is Estrades, the former- producing, high-grade, gold- and zinc-rich polymetallic VMS mine in the northern Abitibi of western Quebec as it hosts significant resources in the middle of a major gold camp. After its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. The company is looking to replicate the same success in Canada with our two highly perspective projects. Should you have any questions and for further information, please contact (toll free): Cautionary Statement Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, completion of the Royalty buy back on the announced terms or at all, objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to the risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
