MIB proposes MVR 103 million dividend for shareholders
The dividend proposal is a 58% increase compared to 2023
The Board of Directors of Maldives Islamic Bank (MIB) has decided to propose a dividend of MVR 103 million to shareholders.
According to the board’s decision, the proposed dividend distribution is:
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MVR 4.58 per share.
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50% of the profit to be distributed as cash dividends.
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The remaining 50% to be issued as bonus shares at a rate of MVR 35 per share.
The dividend proposal is a 58% increase compared to 2023. The board will seek approval for the dividend at the bank’s 15th Annual General Meeting (AGM) this year. MIB stated that:
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A notice of the meeting and further details will be made public in April.
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All shareholders on the bank’s register until the record date of the meeting will be eligible for dividends and bonus shares.
In the past year, MIB has introduced new service centres, enhanced digital banking services, and expanded its operations. The bank also received three international awards.
MIB is the Maldives’ first and only full-fledged Islamic bank.
