The State Trading Organization (STO), at its Annual General Meeting 2024 held on Saturday evening, announced a dividend payout of MVR 80 per share; maintaining the same payout as the year before.
STO held its Annual General Meeting 2024 at Barcelo Nasandhura on Saturday evening, which was attended by 229 shareholders; 162 shareholders and 67 proxies.
The company reported a gross profit of MVR 583 million in the first quarter this year, which is a decline from the MVR 617 million in the corresponding quarter last year. STO said this decline is strongly attributed to the drop in fuel retail prices, but affirmed that activities in other key businesses are sustained.
STO’s operating profit for this year’s first quarter was reported at MVR 263 million, which is a drop from MVR 308 million in the same quarter last year and MVR 300 million from the previous quarter of Q4-2024.