Ooredoo Maldives AGM 2024: Dividends Approved, Board Changes, and a Commitment to Growth

Ooredoo Maldives Plc recently concluded its Annual General Meeting (AGM) for 2024, a significant milestone highlighting shareholder approval on key company matters, leadership changes, and a reinforced commitment to digital development in the Maldives.

AGM Highlights

The AGM, held on March 7th, 2024, drew substantial shareholder participation, both in-person at Central Park, Hulhumale’, and via MSD’s “FahiVote” online platform. A total of 1,764 shareholders attended, representing 96.77% of issued shares. Key outcomes of the AGM include:

  • Approval of 2023 Performance: Shareholders endorsed the 2023 Annual Report, Audited Financial Statements, and reappointed KPMG as auditors for 2024.
  • Dividend Distribution: A dividend of MVR 3.27 per share was approved, demonstrating Ooredoo Maldives’ commitment to shareholder returns.
  • Board of Directors Transformation: Ms. Dheena Hussain and Mr. Suresh Kalpathi Chidambaram were reappointed as Directors by majority shareholder Wataniya International FZ-LLC. Importantly, Mr. Mohamed Shahid was elected as a new Director representing general shareholders, replacing the outgoing Ms. Fareeha Shareef.

Focus on a Digital Future

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The AGM highlighted Ooredoo Maldives’ dedication to driving digital transformation within the nation. The company expressed its continued focus on delivering world-class services and fostering community development through digital initiatives. This aligns with the broader Maldivian government’s goals of strengthening the country’s digital infrastructure and bridging the digital divide.

Leadership for Continued Success

The newly constituted Board of Directors promises to bring a blend of expertise and fresh perspectives to guide Ooredoo Maldives’ growth trajectory. As Mr. Mohamed Shahid joins the Board, the company thanks Ms. Fareeha Shareef for her significant contributions during her tenure.

Investor Confidence

The strong shareholder turnout and approval of key decisions at the Ooredoo Maldives AGM 2024 reflects investor confidence in the company’s direction. With a renewed Board, commitment to innovation, and focus on shareholder value, Ooredoo Maldives appears well-positioned for continued success in the dynamic Maldivian telecom market.

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