Maldives Transport and Contracting Company (MTCC) will hold its Annual General Meeting (AGM) on June 15.
MTCC announced that participants must register before June 10 for the AGM which will be held at Hotel Jen in capital Male'.
The company recently announced its decision to forego dividend distribution for 2018. MTCC attributed the decision to low-profit levels, noting that the state-run company earned a net profit of MVR 34 million in 2018, a decrease of MVR 111 million compared to 2017.
The decision will be formally announced at the AGM.
In 2017, MTCC made MVR 145 million in profits and distributed a total of MVR 20.6 million in dividends which amounted to MVR 2.60 per share. The government currently owns 64.2 percent of MTCC shares while the remaining 31.15 percent shareholders are members of the general public.
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