Telecommunications giant Ooredoo Maldives, on Sunday, finalised MVR 3.22 per share as the annual dividend for 2018.
The decision was reached at the company’s Annual General Meeting (AGM) during which the shareholders unanimously agreed to distribute 88 percent of Ooredoo's profit as dividend.
In 2018 Ooredoo Maldives reportedly earned MVR 1.9 billion as total revenue out of which MVR 544 million amounted to gross profit.
During the AGM it was decided that KPMG, a global network of professional firms providing Audit, Tax and Advisory services, would be assigned to conduct an audit of Ooredoo Maldives. KPGM will audit MVR 875,085 or USD 56,750.
Addition, Chairman of Ooredoo Group Khalid Ibrahim Al Mahmoud announced his retirement from the company during the evening's proceedings.
Ooredoo distributed 85 percent of the previous year's profit to shareholders in 2018, to the amount of MVR 3.20 per share.
Ooredoo Maldives changed its legal status to a public limited company in 2017 and issued its initial public offering (IPO) on May 1 of the same year. So far, Ooredoo has sold 14 million shares worth MVR 421 million to 8,219 shareholders.
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