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BSI workers’ payment of dividends could be further delayed PDF Print E-mail
Written by Administrator   
Saturday, 06 March 2010

A bigger worry for workers is that the problems with the co-generation facility could end up hurting their pockets even more.  BSI workers have not received shareholder dividends since 2007.  While they agreed to sacrifice dividend payments from 2007 to 2011 to facilitate BSI’s financial commitments to the new facility, workers fear that they might have to wait longer for their money.

Horris Patten, President, Belize Worker’s Union

“Workers are totally dissatisfied when it comes to the dividend they do not totally understand and this is why I am saying that we need to sit down and talk to the managing director who will be able to explain to the workers better because workers do not understand why they cannot get their dividend.  The bulletin indicates that in 2007 tied up because they had to defer it from one year to the other year.  Then couple of years ago they suggested it would be in 2010 now it might be some years more. If we drop in the hole again then maybe we are talking about in 2015. ”

The newsletter notes that as a result of the low supply of steam and regular blackouts, BSI has lost a total of 216.30 hours.  Patten indicated that he hoped to discuss the issues affecting workers with BSI’s Chief Executive Officer Joey Montalvo at a meeting planned for the near future.

Last Updated ( Tuesday, 09 March 2010 )
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