During this year’s Annual General Meeting, Ooredoo Maldives passed to distribute MVR 3.30 per shareholder as the 2019 dividend, as proposed by the Board of Directors.

Ooredoo Maldives’ AGM 2020 was held at the Convention Hall of four-star resort Kurumba Maldives on Monday, where the decision was reached unanimously by board directors.

It was revealed that the telecommunications giant reached a profit of MVR 588 million during 2019, which is a 10% increase compared to the net profit recorded in 2018, at MVR 525 million.

The company distributed 85% of profits as dividends during 2018 at a rate of MVR 3.20 per share, the total reaches MVR 472 million.

Ooredoo Maldives revealed that shareholders who had registered by 11 February 2020 will receive dividends for 2019.

During the AGM where a total of 1,314 shareholder were in attendance, the telecom provider confirmed its decision to select multinational professional services network, Price Waterhouse Coopers as its audit firm for 2020 and they will be paid USD 60,000.

In addition, the company elected Fareeha Shareef as its new Board Director by the general shareholders of the company. She attained 526 votes and will complete her term by 2022. Others who contested are Ibrahim Firushan, Aishath Hussain Manik and Ibrahim Shareef Mohamed.