STO announces dividends for 2023 net earnings

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State Trading Organization (STO) on Saturday, June 15, has announced its dividend payout for 2023 net earnings.

According to the largest state-owned enterprise (SOE) in the Maldives, it will be distributing profits at MVR 80 per share at this year’s STO Annual General Meeting.

STO board of directors passed the dividend payout on Saturday.

The dividend payout will be submitted for shareholder approval at the upcoming AGM.

As per the unaudited financial performance annual and final quarter reports of STO for 2023, the company generated a gross revenue MVR 16.4 billion and MVR 4.02 billion, respectively.

The company reports an annual profit after tax of MVR 819 million last year.

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