Maldives Transport and Contracting Company (MTCC) has announced a dividend payout of MVR 3 per share. This was announced at MTCC’s Annual General Meeting (AGM) for 2023 at Umar Zahir Building on Wednesday evening.
The board’s dividend payout decision was approved with 99.6% votes from the shareholders. A total of 374 shareholders attended this event.
MTCC added that the shareholders who registered before June 23, 2024 will be eligible for the dividend.
The company generated an annual revenue of MVR 3.2 billion in 2023, which is a 30% decline from MTCC’s earnings in 2022. MTCC’s profit-after-tax was recorded at MVR 97 million last year, which is a 50% drop from MVR 196 million profit-after-tax in 2022.
MTCC said its net profit declined due to increased expenditure on necessities and provisions.