MTCC approves a dividend payout of MVR 3 per share
The meeting also appointed directors to represent the common shareholders on the board of MTCC.
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By
Aishath Fareeha Abdulla
Maldives Transport and Contracting Company (MTCC) has approved the distribution of MVR 3 as dividend per share to shareholders from last year's profit.
The decision was taken at the company's annual general meeting held at Umar Zahir Building on Wednesday evening.
MTCC's 2023 financial statistics:
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Total revenue was MVR 3.2 billion; this is a 30% increase compared to 2022
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Operating profit was MVR 278 million, down 14% from the previous year
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Net profit after tax stood at MVR 97 million, down 50% from the previous year
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Net profit fell on the back of higher provisions and finance cost expenditure, as noted in its annual report
The meeting also appointed directors to represent the common shareholders on the board of MTCC. The common shareholders will be represented on the company's board for the next term by:
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Nasrat Mohammed
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Mohammed Imran Adnan
Deloitte will be appointed as the company's auditor next year.
