Ordinary Meeting

 

 

Meeting Date:     Tuesday, 26 February, 2019

Location:            Council Chambers, City Administrative Building, Bridge Road, Nowra

Time:                   5.00pm

 

Membership (Quorum - 7)

All Councillors

 

 

 

 

Addendum Agenda

 

Mayoral Minute

Mayoral Minute

MM19.3....... Mayoral Minute - Thank you - Annual Company Dividend - Southern Phone Company........................................................................................................................ 1                           

 

 


 

Addendum Agenda - Ordinary Meeting – Tuesday 26 February 2019

Page 0

 

 

MM19.3      Mayoral Minute - Thank you - Annual Company Dividend - Southern Phone Company

 

HPERM Ref:       D19/57201 

Recommendation

That Shoalhaven City Council acknowledge the financial success that the Southern Phone Company has achieved and send a letter of thanks.

 

Details

Shoalhaven City Council wishes to acknowledge the financial success for 2017/2018 Southern Phone Company has achieved, particularly in such a highly competitive market.

 

Shoalhaven City Council thanks Southern Phone for the Annual Company Dividend of $150,048.56 and notes that the Dividend is paid into the Economic Development Reserve to be used to further economic development initiatives and projects.

 

The dividend calculation is based on 20% of the dividend pool being split equitably by the 35 shareholders and 80% split based on the Southern Phone revenues generated in your Council area.