The Annual General Meeting (AGM) of State Trading Organization (STO) has approved a dividend distribution of MVR 85 per share from last year’s profits. This marks the highest dividend payout by the company in recent history. Last year, STO recorded a total revenue of MVR 15.55 billion, with a net profit of MVR 763 million.
During the AGM, which was attended by 263 shareholders, Mohamed Ahsan Saleem was elected to the Board of Directors representing the public shareholders. Furthermore, the firm Ernst & Young was appointed as the company’s auditor for the upcoming year, and the annual financial reports along with other key resolutions were successfully passed.
STO’s Managing Director, Shimad Ibrahim, stated that the company aims to expand its business operations and enhance shareholder returns under a strategic five-year plan. He also highlighted that STO shares remain a reliable investment that provides protection against inflation.
