STO agrees for a dividend of MVR60 per share on 2020 profits

STO frontman Hussain Amr

State Trading Organization (STO) reports its board agreeing to pay a dividend of MVR60 per share for retained profit of 2020.

Moreover, the company attests the decision came through its latest board of directors on 12 May 2021.

As per the listing rules and Securities Continuing Disclosure of Obligation of Issuers Regulation, all listed companies must publicize their annual reports by 30 April 2021.

However, the major corporation came under unforeseen circumstances amid its audits.

STO had since acquire permission from Capital Market Development Authority (CMDA) and Maldives Stock Exchange to extend annual report deadline until 15 May.