Bank of Maldives (BML) has priced its dividends at MVR 26 per share.

The country’s national bank held its Annual General Meeting (AGM) for 2019 virtually on Monday, during which 98 percent of shareholders voted to approve dividends at MVR 26 per share.

According to the bank, their management profits for 2019 increased by nine percent in comparison to the previous year. As such, the company received MVR 1.7 billion in net profits for last year.

However, BML revealed that the net profits dropped by five percent due to an increase in provision charges as well as taxes.

Overall, MVR 3.3 billion was added to the bank’s assets, which is a 14 percent progression.

Highlighting that BML’s capital expenditure was maintained at a steady level, the bank revealed that capital profits were over 40 percent.

Also during the AGM, BML passed to assign Pricewaterhousecoopers or PwC as their auditors for the upcoming year. Managing

The bank acquired MVR 961.74 million as net profits in 2019.