Maldives Transport and Contracting Company (MTCC) has begun distributing dividends to shareholders.
At the annual general meeting (AGM) held on May 19, shareholders approved the decision to distribute a dividend of USD0.23 per every share with a face value of USD0.32, which is the largest dividend distributed in the 41-year history of MTCC.
The state-owned company stated that shareholders who have no registered bank accounts can receive their dividends after submitting the dividend request form via email or the designated online portal. MTCC is also working to update its list of shareholders.
As per the 2021 annual report, MTCC generated a total income of USD127 million last year, with USD17.6 million declared as profit before tax. It was 21% higher than the previous record profit generated in 2020 when it raised USD89 million as income and USD14.6 million as profit before tax.