Maldives Transport and Contracting Company Plc (MTCC) has decided to distribute MVR 20.9million in dividends to the company’s shareholders.
The decision was made during the company’s Annual General Meeting, which was held in Hotel Jen on 26th April. A total of MVR 52 per share will be distributed as dividends for shares brought from the year 1980 onwards.
MTCC distributed a total of MVR 12million in dividends during the year 2017. The company received MVR 145.3 as net profit during 2017 and did business worth MVR 1.2billion during the year.
501 shareholders were present at the AGM, representing 5,666,212 shares in total. The company also elected two shareholders who will be representing public shareholders in the board of directors.
The company highlighted that the company’s biggest and most notable investment was the Trailing Suction Hopper Dredger “Mahaa Jarraafu”. MTCC invested a total of USD 36million towards the dredger.