Dhiraagu Boosts Dividend to MVR 7.50 per Share at 35th AGM

Dhiraagu declared dividends for 2023 at MVR 7.50 per share at its 35th Annual General Meeting (AGM), which was held at CrossRoads Maldives on Sunday.

The company’s Board of Directors tabled the proposal for a total dividend payout of MVR 570 million, equivalent to MVR 7.50 per share. The resolution passed with a majority vote of 247-335.

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Shareholders enlisted with Dhiraagu as of February 28, 04:00 pm, are eligible to receive the declared dividend.

The incremental increase in the dividend per share is noteworthy, rising marginally from MVR 7.33 in the preceding year to the current MVR 7.50. 

Furthermore, amidst the AGM proceedings, Ahmed Mohamed Didi secured his re-election as the company’s Public Director.

Dhiraagu’s financial performance in the preceding year was a profit of MVR 896 million after tax.

Bahrain Telecommunications Company (Batelco) maintains a majority stake in Dhiraagu, holding 52% of the company’s shares. Meanwhile, the Maldivian government retains a significant ownership interest of 41.80%, with ordinary shareholders accounting for the remaining 6.20%.

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