STO to pay dividends at MVR65 per share


Photo: Hussain Fayaz/Mihaaru

The largest state-owned enterprise in the Maldives, State Trading Organization (STO) revealed that the dividends of the company from retained profits for 2021 will be paid at MVR65 per share.

The announcement was made officially during the company’s annual general meeting held at CROSSROADS Maldives on Monday evening, 30 May 2022.

Furthermore, the event was attended by 157 shareholders directly and 686 via proxies, making it the most attended AGM event in STO’s history.

The company reported a total retained profit of MVR478 million for 2021, which was a 33% increment from the retained profit of 2020.

Some of the agenda items on Monday evening’s AGM included appointment of one Mr. Abdulla Saeed into the company’s Board of Directors who will be representing STO’s general shareholders, and the appointment of the company’s external auditors.