MBT moves to the cloud

Article Excerpt

MANITOBA TELECOM SERVICES INC. $29.70 (Toronto symbol MBT; Shares outstanding: 76.8 million; Market cap: $2.3 billion; TSINetwork Rating: Average; Dividend yield: 5.7%; www.mts.ca) plans to build a new data-storage facility in Manitoba that will help it profit from rising demand for cloud computing services. Technology firms will be able to rent space in this building to house their servers and related equipment. Manitoba Telecom will also help these tenants manage and operate their systems. The company will spend $50 million to build this facility. That’s equal to 2.0 times the $25.4 million, or $0.38 a share, that Manitoba Telecom earned in the three months ended September 30, 2013. The company expects to complete this project in 2015. Manitoba Telecom is a hold. hold…