UTS dividends for St. Maarten | THE DAILY HERALD

PHILIPSBURG–United Telecommunication Services (UTS) owes 42 million Antillean guilders in dividends from 2012 up to and including 2015, of which country St. Maarten is to get NAf. 5.25 million.

That was announced by Curaçao’s Finance Minister Kenneth Gijsbertha representing the largest shareholder (87.5 per cent) of the formerly Antillean government-owned company during a Parliament meeting in Willemstad. St. Maarten has the remaining stake of 12.5 per cent.

Gijsbertha said Curaçao had expected dividends of NAf. 44 million for 2016, but this will now be NAf. 37 million because the surplus declined by NAf. 7 million.

Several parliamentarians asked why, with such profits, it was necessary to reduce personnel by more than half as planned, but the minister explained that this is a consequence of technological developments over which there is no local control affecting current and future business results.

Source: The Daily Herald https://www.thedailyherald.sx/islands/77609-uts-dividends-for-st-maarten