The President and CEO of Bruce Telecom says 2015 was a good year.
At a special Committee of the Whole meeting Monday night, Bart Cameron gave members of Kincardine Council an update on their current position and presented their proposed budget for 2016.
Bruce Telecom's proposed Capital Budget for 2016 is $6 million dollars and an Operating Surplus of just over $1.4 million.
Cameron says with growing competition from other companies, they have to stay focused on operating expenses.
"Telecom itself is a fast moving industry so being able to keep up with all of the changes and all of the things that are happening is an important thing for us to stay mindful of. Technology is a key one and on the consumer side, being able to keep up with the products that people want," says Cameron.
The calculated dividend for 2016 was $900,000 but the Municipality of Kincardine has chosen to reinvest $300,000 into the company so the net to the municipality is $600,000 for this year (2016).
Cameron adds the company is in a good cash position with a 2015 balance of $4.1 million dollars.
