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Manitoba Telecom Services Inc. Reports 2009 Results and Announces 2010 Financial Outlook
Highlights:
- Growth products including Wireless, Internet, Television and Converged IP continue to deliversolid growth, increasing by 4.7% in 2009
- Strong 2009 performance from Consumer Markets division with annual EBITDA growth of 2%
- Cost reduction program achieved increased annual target with $58.4 million in annualized savings
- HSPA build and 2010 pension solvency requirements pre-funded through $200 million in medium term notes
- $25 million set aside for strategic investments in Allstream wireless, Allstream IP footprint and initial deployment of Fibre To The Home in Manitoba
- Divested non-telecom IT consulting business, improving focus on telecommunications products while lowering cost structure
- Declared first quarter dividend of $0.65 per share
- Outlook for 2010 calls for stable performance
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