Maldives Ports Limited (MPL) has approved a USD4.3 million dividend for the state.
The Board of Directors of MPL approved the dividend at the 2022 Annual General Meeting (AGM) after recording a significant increase in profits last year. The state-owned company recorded USD52 million in revenue in 2022, which is a 15% compared to the previous year, and USD7 million in net profit, which is a 43% increase. The approval of USD4.3 million as dividend reflects the company’s 78% growth compared to 2021.
At the AGM, Chief Executive Officer (CEO) Shahid Ali said that MPL was operationally and financially successful in 2022, increasing revenue to pre-pandemic levels. He expressed confidence that the company will record similar figures this year.
MPL also approved the audited financial statements for 2022 at the AGM, and appointed KPMG as the external auditor for this year. Officials at the AGM included Minister of State for Finance Anas Abdul Sattar, Vice President of the Privatisation and Corporatisation Board (PCB) Mohamed Firaz, and representatives of the Attorney General’s Office (AGO) and KPMG.