Woman homeless after Belize City house collapses
September 29, 2015
Miguel Alamilla and Captain Romi Badillo named “Ocean Heroes”
September 29, 2015

BTL declares $17 million profit at AGM

Posted: Tuesday, September 29, 2015. 8:23 pm CST.

Tuesday, September 29, 2015.  Aaron Humes Reporting: Shareholders heard from the board of directors of Belize Telemedia Limited (BTL) at tonight’s Ninth Annual General Meeting (AGM) at the Biltmore Plaza Hotel that the company’s profits had slipped again, by $2.1 million to $17 million; however, this erosion, said company chairman Nestor Vasquez, is due to depreciation of assets and not to any internal trouble. 20150929_193214_resized

Vasquez touted a laundry list of accomplishments, many of which were expanded in the company’s video presentation. Chief among these are successive dividends declared, totaling $72 million in six years, multiple increases in internet speeds for lower prices; continuing promotions and development.

The company plans to introduce LTE technology as part of its “Culture Change Initiative”, a top to bottom re-do of the company’s goals, aims and plans.

20150929_193303_resizedConcerning the settlement of BTL’s ownership, Vasquez said BTL would float Treasury bonds to help repay the loan to the British Caribbean
Bank (BCB) which Government acquired as part of the nationalization of the company in 2009 and again in 2011, and proposed a sinking fund to help pay interest on the bonds, which he said can be rolled over and are not expected to affect the company’s profits.

We will have more on the AGM later on.


Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtі[email protected]еаkіngbеlіzеnеwѕ.соm or call us at 501-601-0315.


© 2015, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.

  • Galen University
  • larry waight
  • Galen University
  • Shindaiwa