BML set for MVR 50 per share in record dividend payout
This is the first time the bank has posted a net profit of more than MVR 2 billion.
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By
Aishath Fareeha Abdulla
The Bank of Maldives (BML) has proposed a dividend of MVR 50 per share to its shareholders. The bank's board has decided to propose the dividend amount at the Annual General Meeting.
BML said in a statement on Thursday that last year was the best year for the bank.
BML posted a profit of MVR 2.07 billion after tax last year. This brings the dividend to MVR 50, and is the highest dividend the bank has ever paid to shareholders.
The bank is pleased with the record results achieved last year, CEO and Managing Director Karl Stumke said.
This is the first time the bank has posted a net profit of more than MVR 2 billion.
"Following the bank's results, the board has proposed a total dividend of MVR 269 million, the highest in the history of the bank," the bank said, quoting Karl.
He said the bank’s largest shareholder is the government and with this result, the bank will pay a dividend of MVR 136.6 million and an additional MVR 628 million in taxes for 2023.
