Published On: Tue, Oct 16th, 2018

New strategic partner for UTS soon

UTS1WILLEMSTAD - The public company United Telecommunication Services (UTS) expects to have a strategic partner in the short term and will, therefore, be paying a 14.175 million guilder dividend to the government this month.

The company announced this in a letter to its shareholders (the governments of Curaçao and St. Maarten). The government, in turn, send the letter to the Committee for Financial Supervision as proof that the deficit in the 2018/2019 budget will be covered.

On September 11, UTS agreed to the payment of 42 million guilders of dividend, divided over several tranches, to the countries Curaçao (87.5 percent) and Sint Maarten (12.5 percent).

In the letter to the shareholders, the company reported that the process of obtaining a strategic partner is progressing steadily and is expected to be 'completed in the short term'. On the basis of these developments, UTS has drawn up a payment schedule after internal deliberation with, among others, the Supervisory Board. It states that the first 14.175 million guilders will be transferred to the government in October 2018.

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