State Trading Organization (STO) has decided that MVR 80 per share will be distributed from last year's profits.
State Trading Organization (STO) has decided that MVR 80 per share will be distributed from last year's profits.
The decision was reached last night at their Annual General Meeting held in the Neeri Lounge of the Seaplane Terminal.
The amount of MVR 80 per share was passed through the votes of 99 percent of the attendees. The AGM had 189 shareholders in attendance.
The amount of MVR 80 is MVR 3 more than last year's number. This is the biggest amount the company has distributed within the past ten years.
Last year, the company distributed MVR 77 per share.
Total revenue received by STO last year is at MVR 16 billion, which is an MVR 2 billion increase from the previous year.
Net profit is at MVR 819 million, which is 10 percent higher than the previous year.
Last night's AGM also saw Deloitte being decided as the external auditor of the company for the coming year. Deloitte will be paid USD 65,500 (MVR 1,012,630) for their services.
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