STO to provide MVR58 as dividend

STO generated the highest revenue in Q1 2019

The State Trading Organization (STO) is to provide MVR58 from their profits for each share purchased by a shareholder.

This decision was made during the board meeting of STO conducted last Sunday.

The Annual General Meeting of STO is set to be conducted on 30 May.

During all four quarters of 2018, STO had made immense profit. The first quarter received a profit of MVR46 million, the second quarter received MVR47 million, the third quarter obtained MVR47 million and the fourth quarter accumulated a profit of MVR65 million.

The new management of STO seeks to take steps which would increase the company’s financial gains over the next few years. As such, STO intends on selling the Hulhumale’ based five star hotel to interested parties.