Bank of Maldives (BML) has commenced the distribution of its interim dividend of 2021 to its shareholders.
BML revealed its Board of Directors had decided to distribute a total of USD4.5 million as interim dividend for 2021, at a rate of USD0.84 per share. The dividend will be distributed to shareholders registered at BML by April 10.
BML stated the dividend has already been distributed to all shareholders who have provided the required information to the bank. As per the Income Tax Act, the bank can only issue shares to shareholders who have informed their location of residence to the bank. BML requested all shareholders to share this information with the bank by August. Shareholders who fail to do so will receive their shares with a deduction for Withholding Tax.
As per the unaudited annual accounts of BML for 2021, the bank received a total income of USD246 million and a net profit of USD110 million last year. BML said the figures indicated good progress made in recovering from the impacts of the COVID-19 pandemic.