Cable Bahamas appoints Franklyn Butler II as new Vice Chairman
By David Burrows, Cable Bahamas Ltd
Aug 11, 2014 - 1:39:37 PM
Dividend increases by 40%
Nassau,The Bahamas -The Board of Directors of Cable Bahamas Limited (BISX: CAB) today announced the appointment of Franklyn Butler II to the new position of Vice Chairman of the Board of Directors. "One of the Board's most principal responsibilities is long-term succession planning, and the company devotes significant time planning for stability and continuity, both at the Board and management levels," said Gary Kain, Chairman of the Board of Directors. "In keeping with this commitment, I'm pleased with Franklyn's appointment. Cable Bahamas has benefited from his broad expertise, particularly his experience in the business community. I am very much looking forward to working closely with Franklyn as Cable Bahamas enters a critical period in its development."
At the company's annual general meeting, Cable Bahamas' shareholders additionally re-elected Troy d'Arville and Franklyn Butler II and elected Ross McDonald to the board of directors.
The company also announced that its Board of Directors approved a $0.04 increase in its quarterly common share dividend rate (from $0.10 per common share to $0.14 per common share) effective the third quarter 2014.
About Cable Bahamas
Cable Bahamas is the communications provider of choice and the first to offer triple play (voice, video, data) services in The Bahamas. During 2013, Cable Bahamas acquired four telecommunications providers in Florida and merged them into Summit Broadband, offering businesses and consumers a nearly 500-mile fibre-optic backbone connecting south Florida, west Florida and central Florida. In The Bahamas, services are provided under the REV suite of products including REVOICE, REVON and REVTV, covering telephony, broadband Internet and cable TV respectively. The company has revolutionised every area of business: delivering REVOICE landline phone services at the lowest cost and with the most features in The Bahamas; REVON broadband Internet, which is the fastest in the nation; and, REVTV cable TV service, that includes more than 500 channels with over 100 in HD and thousands of hours of video on demand content. Cable Bahamas serves residential and business customers on 16 islands in The Bahamas. The company also created the Cable Bahamas Cares Foundation, which has awarded over $2 million to local Bahamian non-profit organisations since its inception. Summit Broadband, a telecommunications provider, offers phone, high-speed Internet, cable TV and data transport services to both commercial and residential customers throughout southwest Florida and central Florida. The company also offers dark fibre transport to enterprise and carrier customers. Summit Broadband now supplies uncompressed high-definition television and the fastest Internet service available, with speeds of 1,000 megabits per second (1 gigabit per second).
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