Maldives Islamic Bank PLC has announced that its Board of Directors has recommended a cash dividend of USD 8,407,725 (USD 0.35 per share) for the year ended 31 December 2025.
The recommendation was made at a board meeting held to approve the bank’s audited financial reports for 2025.
The board has decided to seek shareholder approval for the dividend at its Annual General Meeting (AGM(). The proposed payout represents an increase of USD 1.68 million compared to the previous year, with a 35 percent payout ratio and a 25.81 percent increase from 2024. The dividend is subject to shareholder approval at the bank’s 16th AGM, scheduled for May 2026.
The bank has also reminded shareholders to update their residency status in line with the Income Tax Act of Maldives, as dividends are subject to 10 percent Non-Resident Withholding Tax. shareholders can update their residency until the date of the AGM this year.
Last year was a highly successful year for MIB. This year marks the 15th anniversary of the introduction of Islamic banking services in the Maldives by the bank.