MTCC approves to distribute MVR 2 per share

MTCC AGM in 2018. (Sun Photo/Ahmed Awshan Ilyas)

MTCC has decided to distribute MVR 2 per share with a face value of MVR 5 from its profits in 2019.

The Board of Directors approved the financial statistics of the company in 2019 in a meeting yesterday.

After taxes, the company made a profit of MVR 53.3 million. The Board decided to propose the distribution of MVR 2 per share during the annual general meeting of the company to be held.

MTCC had decided to exclude three shareholders when distributing its shares in 2018. The company earned MVR 34.27 in 2018.

MTCC is one of the oldest companies on the share exchange market. The company is partly owned by the government and MNSL.