STO Sets MVR 80 Dividend Share from Last Year’s Earnings
Photo: STO
State Trading Organization (STO) has confirmed a dividend distribution of MVR 80 per share from last year’s profits, marking a significant increase from the previous year’s MVR 77 per share.
The decision was made during their Annual General Meeting held at the Neeri Lounge of the Seaplane Terminal.
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https://x.com/stoplc/status/1811830779191919101
The proposal to distribute MVR 80 per share received overwhelming support, with 99 percent of the attendees voting in favour. The AGM, attended by 189 shareholders, highlighted this distribution as the largest in the company’s recent decade-long history.
STO reported a total revenue of MVR 16 billion for the fiscal year, marking a notable MVR 2 billion increase compared to the previous year. The company also announced a net profit of MVR 819 million, reflecting a 10 percent rise from the preceding year.
Additionally, at the AGM, Deloitte was appointed as the external auditor for the upcoming year. The auditing firm will receive USD 65,500 (MVR 1,012,630) for their services.
