DIVIDEND POLICY

The proposed new Articles of Association contain a provision for the payment of a dividend of not less than 45% of the profits after tax.  This provision ensures that notwithstanding the views of the Directors, the shareholders can anticipate a yearly dividend. The Board of Directors would however still be able to declare dividends in excess of the stated minimum.

 

ASSUMPTIONS REGARDING FORECASTED PROFITS

The profit forecast set out on page 10 is made on the basis of the following principal assumptions:

 

1. It is assumed that there will be no change in legislation or regulations by the Public Utilities Commission which will have an unexpected adverse effect on the business of BTL.
2. There will be no material changes in the existing arrangement with overseas telecommunication administrations.
3. There will be no abnormal stock obsolescence resulting from technological change.
4. There will be no major interruption in the supplies of equipment or components to NTL or major damage to its installations or the installations of local and overseas operators.
5. It is assumed that there will be no material change in the rates of taxation that will adversely affect the profitability of the company.

 

Readers are cautioned that these forward looking statements are subject to risks and uncertainties that could cause actual events or results to differ from those expressed or implied by the statements and no assurance can be given that the future results will be achieved.  Actual events or results may differ materially as a result of the risks and uncertainties the Company faces.  Such risks and uncertainties include, but are not limited to:

 

1. Actions taken by the regulator of the telecommunications industry in Belize;
2. Actions taken by the Company’s labour union;
3. Compliance by the Company’s suppliers and contractors with contractual terms; and

 

General economic and political conditions in Belize.