The Bank of Maldives (BML) Board of Directors has decided to issue two bonus shares for every existing share.
With the bank's significant financial progress, the board has also proposed issuing a dividend of MVR 60 per share, with the total dividend payout quoted at MVR 322,915,200, if approved by shareholders at the bank's Annual General Meeting.
Once the bonus shares are issued, the book value of each share will be MVR 1,015.90, providing shareholders a total benefit of MVR 2,091.80 per share, the bank said.
The bank said that the proposed bonus share issuance is intended to strengthen its market capitalization, enhance the shareholder value, and support the continued growth and diversification of the Maldivian capital market.
BML currently has 6,148 shareholders. This includes 5,999 public shareholders and 152 council offices. 51 percent of BML shares is held by the government. In addition to this, Pension Office holds seven percent shares and MTCC holds 4 percent shares.
The final dividend will be payable to all shareholders listed in the Shareholders' Register as of the Book Closure Date, the bank announced.
