BML to payout record MVR 50 per share as dividends

Bank of Maldives (BML)'s annual general meeting on May 28, 2024. (Photo/BML)

Bank of Maldives (BML)’s shareholders have approved a record amount of MVR 50 per share dividend payout.

The dividend payout was approved at the bank’s Annual General Meeting (AGM) held on Tuesday night.

In this regard, the shareholders approved a dividend payout of MVR 269 million at MVR 50 per share.

Speaking at the meeting, BML’s CEO, Managing Director Karl Stumke said the dividend payout accounted for the largest in the bank’s history as BML achieved its best-ever performance in 2023.

He extended gratitude to the bank’s customers for their continued loyalty and conveyed the bank’s commitment to continuously improving their experience with the bank and making banking as seamless and convenient as possible.

“We will continue to uphold the highest standards of governance and customer centricity, with a focus on digitalization while striving to create a more sustainable and inclusive future for all. Together, we will continue to build a stronger, more prosperous future for Bank of Maldives and the nation we serve,” he added.

Stumke also extended gratitude to the bank’s Board of Directors for their guidance and stewardship over the year and their shareholders for their continued trust and confidence in the bank.

“We remain steadfast in our vision to be the bank of choice in the Maldives,” he stressed.

The government, as BML’s largest shareholder, stands to benefit with MVR 136.6 million as dividends and a further MVR 628 million as tax for the year 2023.

In 2022, BML had a dividend payout of MVR 215 million at MVR 40 per share.