STO declares dividends at MVR65 per share

The largest state-owned enterprise in the Maldives, State Trading Organization (STO) on Monday evening announced on paying dividends at MVR65 per share.

The company's annual general meeting was held on Monday evening at the CROSSROADS Maldives where a total of 157 of its shareholders attended the event, with another 686 shareholder proxies.

Furthermore, STO had confirmed that Monday evening's AGM had attracted the highest number of shareholders, taking part in any of the company's AGM till date.

On Monday evening's event, the company had appointed one Mr. Abdulla Saeed as the newest addition into the company's board representing the general shareholders.

Other items on agenda included appointment of the company's external auditors and approval of the annual report.

STO reports a profit-after-tax of MVR478 million in 2021, which indicates a 33 percent increment from the year before.