Maldives Transport and Contracting Company (MTCC) decides to pay dividend at MVR2.00 per share in AGM.
During the Board of Directors meeting on Thursday, its members decided to pay the dividend for shares with face value of MVR5.00.
According to the state-owned enterprise, the dividend will be paid at their annual general meeting.
Meanwhile, MTCC has not announced a schedule for the 2019 AGM.
However, the company notes that shareholders who register before the deadline will be applicable for the dividend.
Moreover, MTCC board of director’s approved its 2019 fiscal statements on Thursday’s meeting.
The state owned enterprise did not pay any dividends from their profit of 2018.
According to MTCC, their net profit for 2018 hit MVR34 million. However, its board decided against paying dividend due to the company’s financial situation.
Meanwhile, in 2019 the company earned MVR53 million in net profit. Additionally MTCC’s net profit for Q1-2020 hit MVR62.3 million which marks a 310.54% improvement over the corresponding quarter in 2019.