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BTL “doubles up” on dividends after $10.7 million profit rebound

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Posted: Saturday, October 1, 2022. 2:39 pm CST.

By Aaron Humes: Friday was a “Double Day” at Belize Telemedia Limited (BTL) – but if you are a shareholder in the company you also had double the reason to be excited.

It was also the annual general meeting day, and company chairman Mark Lizarraga announced that dividend prices per share doubled compared to last year, as a result of a $16.1 million profit – up nearly 200 percent from last year’s figure of $5.4 million.

Consolidated revenue amount to $141.3 million; earnings per share is now 29 cents, quadrupled from seven; and the return on equity is 8.6 percent, beating the targeted eight percent. A dividend of 13 cents per share was declared, up from 6.2 cents.

So what did BTL get right? On the expenditure side, says Lizarraga, there was an effort to cut costs and improve internal efficiency with support from management and staff.

CEO Ivan Tesecum bifurcated BTL’s business strategy as differentiating core services of voice, SMS (messaging), and data and cultivating a strategy for value, and diversifying into new areas not covered by over-the-internet providers such as mobile payment (DigiWallet) and entertainment content (Quad-Play/Switch TV).

Board member Jose Urbina said BTL’s ongoing transformation will turn it into a digital company and take it beyond the traditional, bringing it and Belize into the digital era fully. The National Telecom, he said, wants to be the digital telecom leader as well.

 

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