Bank of Maldives (BML) has decided to issue over USD 7.6 million as dividend, which an increase of 10% compared to last year. Shareholders of BML approved the dividend pay-out of over USD 7.6 million at the Bank's Annual General Meeting.
The past year has reinforced confidence in the bank's strategic direction and have a solid platform to continue to grow and invest, CEO and Managing Director of BML Andrew Healy stated addressing shareholders.
As BML's largest shareholder, the state will benefit from the increased pay-out and it was reported that when both taxation and dividend payments are taken into account, total state receipts will amount to over USD 24.3 million. Profit Before Tax of BML in 2017 was over USD 91 million, which is an increase of 4% in absolute terms and up 20% on an underlying basis versus the prior year.