Dhiraagu approves MVR 7.50 per share as dividend

Dhiraagu holds its 35th Annual General Meeting on April 29, 2024. (Photo/Dhiraagu)

Local telecom giant Dhiraagu, during its Annual General Meeting on Sunday, voted to distribute MVR 7.50 per share as dividend for the year 2023.

Dhiraagu hosted its 35th Annual General Meeting (AGM) at Crossroads Maldives on Sunday night. At the meeting, shareholders approved a total dividend payout of MVR 570 million – at the rate of MVR 7.50 per share - proposed by the company’s Board of Directors.  It passed with a majority vote of 247-335.

Shareholders registered with Dhiraagu as of 04:00 pm on February 28 are entitled to the dividend.

The MVR 7.50 dividend is a slight increase on the MVR 7.33 dividend passed last year.

Also at Sunday’s AGM, Ahmed Mohamed Didi was re-elected as the company’s Public Director.

Dhiraagu posted a profit after tax of MVR 896 million last year.

The majority of Dhiraagu’s shares are held by Bahrain Telecommunications Company (Batelco). It owns 52 percent of the company’s shares, while the Maldivian government holds another 41.80 percent, and ordinary shareholders own the remaining 6.20 percent.