State Trading Organistion (STO), on Saturday, announced their decision to distribute MVR 58 per share as dividend for 2019.
The allocation was finalised by 921,752 shareholders or 99.99 percent of participants at STO's virtual Annual General Meeting (AGM).
As per statistics, STO recorded MVR 303 million as revenue in 2019 while STO Group received a total of MVR 383 million. In 2018, these figures stood at MVR 14 million and MVR 30 million, respectively.
STO Managing Director Hussain Amru stated that 2019 was STO's most profitable year and assured that the company would work to ensure maximum revenue in 2020 as well.
During the AGM, STO also confirmed the decision to select Price Waterhouse Coopers as its external audit firm for 2020.
Furthermore, Aminath Rushma was elected as the representative of general shareholders for the upcoming financial quarter. Rushma currently serves on STO's Board of Directors.
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