MTCC proposes MVR 3.50 per share as dividend
MTCC is yet to reveal the date of AGM
MTCC Tower
The Board of Directors of Maldives Transport and Contracting Company (MTCC) has proposed MVR 3.50 per share as dividend.
MTCC announced that its Board of Directors has resolved to propose a dividend of MVR 3.50 per share, amounting to MVR 28.1 million for the financial year 2021.
The final dividend will be presented for approval of shareholders at the next Annual General Meeting. The company is yet to reveal the date of AGM.
MTCC states that the dividend will be payable to shareholders registered in the company's Share Register as at 18th April 2022.
Last year MTCC priced it's dividend at MVR 3 per share.
MTCC aims to earn a profit of MVR 300 million by the end of the year. The company's CEO, Adam Azim has earlier, stated that he aims to increase the profit of the company by MVR 50 million each year. Azim has stated that when he became the CEO of MTCC, the company's profit was not of a significant figure. However, within a year, he was able to make the company's profit to increase by MVR 50 million.
As such, he said that the aim for 2020 was to earn MVR 200 million as profit and that the company earned MVR 224 million as profit by the end of the year. He highlighted that the profit of 2021 was MVR 270 million and stated that the target for 2022 is to earn MVR 300 million as profit.
