BML will hold its 41st AGM on May 28, 2024.
Bank of Maldives (BML) has announced that its annual general meeting (AGM) will be held on the night of May 28, 2024.
The bank's 41st AGM will be held at Hotel Jen at 20:30 hrs, and those who register as shareholders of the bank before May 20 will be able to attend the meeting.
Activities on the agenda for the meeting include approving the financial statements of the previous financial year, electing Directors to the bank's Board, and appointing an auditor.
Profit share distribution rates decided by the bank's Board will also be approved during the meeting. The Board proposed to distribute MVR 50 (USD 3.24) per share from the previous year's profits, which is MVR 10 (USD 0.65) more than the previous year.
BML will be distributing a total of MVR 269 million at the rate of MVR 50 if passed by the board.
Last year, BML netted MVR 2 billion (USD 129.7 million) in profits and generated an income of MVR 4.4 billion ( USD 285.3 million), which is MVR 400 million (USD 25.94 million) more than 2023.
BML was established in the Maldives in 1982.
As of now, the Maldivian government holds 62.2 percent of the shares of BML, State Owned Enterprises hold 4.1 percent, and 33.7 percent is held by public shareholders.
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