State Trading Organisation (STO) has decided to distribute USD 3.76 per share as its dividend payout for 2019.
STO said the proposal to distribute USD 3.76 as dividend payout was passed by the directors’ board of the company. STO said the proposal will be forwarded for approval of shareholders during the Annual General Meeting (AGM) which is scheduled to be held on August 30.
The state-owned company said registration for the AGM has been opened until 1600hrs on August 29. The company has invited all of its shareholders to take part in the AGM, which will be held as a live online event.
The annual financial report of STO revealed the net profit of the company increased significantly in 2019 compared to the previous year. In this regard, the state-owned company generated a net profit of USD 19.7 million in 2019, compared to just USD 0.9 million in 2018. The report further stated an operating profit of USD 44.3 million was generated last year, which was an 80% increase compared to the previous year.