Maldives Transport and Contracting Company (MTCC) has generated a profit of USD17.6 million in 2021, the highest in the 41-year history of the company.
As per the 2021 Annual Report of MTCC, the company generated a total income of USD127 million last year, with USD17.6 million declared as profit before tax. This was 21% higher than the previous record profit generated in 2020, when the company raised USD89 million as income and USD14.6 million as profit before tax.
The Board of Directors of MTCC has decided to distribute USD1.8 million to its shareholders from the profits generated in 2021. The dividend will be distributed at a rate of USD0.23 per every share with a face value of USD0.32. The dividend will be passed during the Annual General Meeting (AGM) of the company.
In 2021, MTCC carried out a large number of infrastructure development projects across the country. As such, the company took on 57 new projects last year, and completed 27 projects. The company also expanded its trade and other businesses, and stepped up its marketing campaigns during 2021.