It’s a go for Bruce Telecom.
Kincardine council last night approved the communications company’s plan for expansion in a 5.5 million dollar project.
The money for the project will come from Bruce Telecom’s operating cash flow.
The end result — according to Bruce Telecome CEO Eric Dobson — is that Bruce Telecom will provide faster internet service to more homes and enhancing their television providing service.
The plan will take 5 years to realize but in the end Kincardine will be looking at a growing divident payout from the company.
The dividend this year is about 800 thousand dollars.
In five years time, Dobson says the payout will be an estimated 1.2 million dollars.
Company officials says Phase One will start soon, upgrading eight thousand homes in high density areas at a cost of four million dollars.
Phase two will target another one thousand homes or more for upgrading.
