The Board of Directors of Bahamas Waste has announced a dividend of 12 cents per share οΎ– the largest since the company went public in 2000.
Bahamas Waste chairman Peter Andrews said that while there was concern the company would be affected by fallout from the 2001 terrorist attacks in the United States, solid management practices have enabled them to give their shareholders a return on their investment.
“The purpose of a company is to make money for its shareholders. We have nearly 1,500 Bahamians who invested in Bahamas Waste and I am proud that by using smart management, we have consistently improved our overall performance and can share the success with our shareholders,” he said.
He explained that although Bahamas Waste saw a miniscule drop in overall volume and no significant growth last year, management had anticipated this and prepared accordingly.
According to Mr. Andrews, one of the key areas management focused on this year was vehicle maintenance.
“Our fleet is on the streets almost 24 hours a day, so it is imperative to the overall running of this business that we make sure they are kept in good condition. We have a full-service shop on site, and that has been given priority this year,” said Mr. Andrews.
Over the past year, Bahamas Waste has expanded its core business of commercial waste collection, adding a number of residential communities. The company’s team services Ocean Club Estates, Treasure Cove, Sandy Port and a number of condominium and apartment complexes in New Providence.
Mr. Andrews said this year management will continue to lobby for additional residential projects as it seeks to expand and grow the company.
Early this year, Bahamas Waste expects to finalise its expansion into Abaco. Initially they will offer construction and commercial collection and removal services, but see opportunities to offer their other services as well.
