Bank of Maldives (BML) on Monday announces paying their dividends at MVR26 per share.
Moreover, the decision comes from the bank’s Board of Directors at the 2019 Annual General Meeting.
Furthermore, on Monday the bank’s virtual Annual General Meeting was held where the board set to pay dividends from 2019 net profit.
As per BML, the dividends will be paid from MVR139 million profit of last year.
Meanwhile, the bank’s Managing Director and CEO Tim Sawyer made highlights on previous year’s achievements.
Sawyer notes last year saw the bank’s strong financial performance, with an operating profit of MVR1.7 billion.
Moreover, he comments this was up by 9% in comparison with 2018.
However, profit after tax saw a decline of 5% due to higher provision charges.
In his comments, Sawyer also highlights growth in total assets by MVR3.3 billion, up by 14%.
Furthermore, the Capital Adequacy Ratio stood over 40%, well above regulatory requirements.