BML announces dividend payout of MVR258mn to shareholders

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Photo: Nishan Ali | Mihaaru

Bank of Maldives (BML) declares a total dividend payout of MVR258 million to shareholders with MVR48 per share from retained profits of 2021.

The declaration was made at the bank’s annual general meeting held on Sunday evening, 29 May 2022, at JEN Maldives by Shangri-La.

Moreover, this marks the highest dividend payout in the bank’s history observing the strongest ever financial performance of the bank so far.

Meanwhile, Mr. Tim Sawyer, the Chief Executive of BML said, “Earlier this year, an interim dividend of MVR13 per share was paid. Shareholders have tonight approved a total dividend of MVR48 per share.”

Furthermore, the MVR48 per share on dividends include the interim dividend of MVR13 per share paid out earlier in the year.

“I would like to extend my appreciation to our staff for their hard work and to our shareholders and customers for their confidence in the bank. While we will continue to work tirelessly to meet service expectations, the results today are evidence that the bank is in the strongest position it has ever been in,” Mr. Sawyer further commented.

With the Maldives Government has the biggest shareholder of the bank, state expects a final dividend payout of MVR131 million.

In 2020, BML reportedly distributed MVR80.7 million as the final dividend at a rate of MVR15 per share.

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