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Dhiraagu proposes distribution of 905 mln as dividend

Mariyam Malsa
11 February 2019, MVT 09:34
The Annual General Meeting of Dhiraagu held in 2018. PHOTO: HUSSAIN WAHEED/ MIHAARU
Mariyam Malsa
11 February 2019, MVT 09:34

Board of directors of local telecom giant Dhiraagu, on Sunday, proposed to distribute MVR 905 million received as revenue in 2018, to shareholders as dividend.

The board's decision will be presented for approval at the company's 2019 Annual General Meeting. If the move is endorsed by the AGM, shareholders will receive MVR 11.91 as dividend per share.

In 2017, shareholders received MVR 11.81 per share after Dhiraagu distributed a revenue of MVR 897.6 million.

The proposed figures for 2019 represent an increase of 10 laari (0.10 MVR) compared to the previous year.

Over the past seven years, Dhiraagu has distributed a sustained profit as dividend for its shareholders. In 2018, the telecom company expended efforts to modernize its services.