STO Approves MVR 80 Dividend per Share for 2024
The State Trading Organization (STO) has confirmed a dividend of MVR 80 per share for the year 2024, following approval from the majority of shareholders at its Annual General Meeting (AGM) held last evening at Barcelo Nasandhura.
According to STO, 229 shareholders participated in the AGM, including 162 direct shareholders and 67 through proxies. The dividend, paid from retained profits, matches the payout for 2023 and remains the highest distributed by the company in the past 17 years. The resolution received approval from 99 percent of participants.
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Our Shareholders have approved a dividend of MVR 80 per share for the year 2024. #HappeningNow #STOAGM2024 pic.twitter.com/ysjwpvHVBC— STO (@stoplc) May 17, 2025
STO has also released its financial results for the first quarter of 2025. The company recorded a gross profit of MVR 583 million, marking a decrease of MVR 617 million compared to the same period in 2024. STO attributed the decline primarily to reductions in fuel retail prices, although it stated that operations in key business sectors have remained active.
Operating profit for the first quarter stood at MVR 263 million, down from MVR 308 million in the corresponding quarter last year and MVR 300 million in the previous quarter.
