MTCC's shareholders approves MVR 3.50 per share as dividend for last year

A capture from MTCC's Annual General Meeting 2021 held on May 19, 2022. (Photo/MTCC)

The shareholders of Maldives Transport and Contracting Company (MTCC) have approved the distribution of MVR 3.50 per share as dividend for the year 2021.

At MTCC’s Annual General Meeting (AGM) held at Kurumba Maldives Resort on Thursday night, the decision was approved by the votes of 396 shareholders. Meanwhile, 257 shareholders had voted against it.

Last night’s AGM saw the participation of 69 shareholders – representing 70 percent shares in the company, valued at MVR 5.6 million.

PricewaterhouseCoopers was appointed as the company’s auditor for this year at the AGM.

The 2021 annual report released by MTCC shows the company generated a revenue of MVR 1.95 billion – a 44 percent increase compared to 2020.

The company also generated a profit of MVR 232 million – marking the best financial performance in its 41-year-long history and a 21 percent increase compared to 2020.