Dhiraagu Concludes 37th Annual General Meeting with All Resolutions Passed

Dhiraagu has successfully concluded its 37th Annual General Meeting (AGM), held at JEN Maldives Malé by Shangri-La as a hybrid session. A total of 265 shareholders registered to participate, including 136 attending directly and 129 represented by proxy. All participants cast their votes through ‘FahiVote’, an online general meeting management system developed by Maldives Security Depository Pvt Ltd.

Shareholders representing 74,240,990 shares took part in the meeting, and all five proposed ordinary resolutions were passed by the required majority.

The resolutions included the approval of the Directors’ Report and Audited Financial Statements for the year ended 31 December 2025, and the approval of the full and final dividend for the same period. Shareholders also approved the appointment of the External Auditor for the financial year ending 31 December 2026 and endorsed a standing resolution to declare an interim dividend for 2026. In addition, Ms Asiath Rilweena was elected as Public Director to the company’s Board of Directors, to serve until the conclusion of the 39th AGM.

Dhiraagu highlighted several key achievements for 2025. These included the inauguration of the Maldives’ first Tier IV Certified Data Centre and the expansion of facilities in N. Velidhoo, strengthening national digital infrastructure. The company also achieved 100 per cent fibre-to-the-home coverage across all inhabited islands, earning recognition from the Government of Maldives.

Further milestones included receiving the Great Place to Work Certification® with a 93 per cent participation rate, reflecting strong workplace engagement. Dhiraagu also expanded its product and service portfolio, including unlimited fibre broadband, continued 5G rollout, and growth in digital platforms such as cloud services, cybersecurity, and mobile financial services.

The company also invested in resilience and international connectivity through its participation in the SEA-ME-WE 6 submarine cable system and a strategic partnership with Google on the Dhivaru subsea cable project, establishing a new connectivity hub in Addu City.

On financial performance, Dhiraagu reported a 1.8 per cent increase in revenue in 2025, reaching MVR 2.8 billion. EBITDA rose by 1.9 per cent to MVR 1.6 billion, while net profit increased by 0.4 per cent to MVR 949 million.

Dhiraagu stated that it remains committed to delivering sustainable shareholder value through consistent dividend payments. The Board of Directors proposed a final dividend of MVR 8.70 per share, which shareholders approved.

According to the company, the total dividend includes an interim payment of MVR 1.66 per share made in 2025 and a final dividend of MVR 7.04 per share. The company stated that this reflects confidence in its financial position and its ongoing commitment to delivering sustainable returns.