STO to propose dividend of MVR 76 per share

The Board of Directors of State Trading Organisation (STO) has decided to propose a dividend of MVR 76 per share at the Annual General Meeting (AGM).

This is a threefold increase in dividend compared to the previous year, which was MVR 24 per share.

The company’s AGM will be held at Hotel Jen on Friday, 29 May.

Items on the AGM agenda include passing the annual financial statements, appointing an auditor for the coming year, and appointing a shareholder representative to the Board of Directors.

STO has urged shareholders who are unable to attend the AGM to submit the proxy form before 28 May.

So far, AGMs have been held this year by Dhiraagu and Amana Takaful.