Ooredoo to pay dividend of MVR 484 million

Mar 10, 2024, 5:15 AM
Ooredoo annual general meeting. -- Photo: Ooredoo

Ooredoo annual general meeting. -- Photo: Ooredoo

Ooredoo, which posted a profit of MVR 685 million last year, has decided to pay a dividend of MVR 484 million to its shareholders.

At Ooredoo's annual general meeting on Thursday, shareholders approved a dividend of MVR 3.27 per share.

In 2022, Ooredoo provided MVR 3.04 per share so this is an increase of 23 laari compared to the previous year.

Ooredoo also approved KPMG as its auditor for the year and approved the company's audited financial statements.

The annual general meeting was attended by 123 shareholders and 60 proxy holders.

The majority shareholder of Ooredoo Maldives is Qatar's Wataniya International. The company, which is listed on the Maldives Stock Exchange, also has shares of the Maldives Pension Administration Office and the public shareholders.

Comments

Read More

Latest News

Nilaa Coral Island Resort opens in Gaafu Dhaalu Atoll

Nilaa Coral Island, a 20-room resort funded by an Italian firm, has opened on Kodegalaa in Gaafu Dhaalu Atoll. As the fourth resort in the region, it aims to boost tourism and local employment under the "Visit Maldives Year 2027" initiative. The project was developed via a cross-subsidy model near Maavarulu Airport.

Businesses decry MPL dollar fees

Maldivian businesses are criticizing Maldives Ports Limited for requiring stevedoring fees in US dollars despite government efforts to promote the Rufiyaa. Importers claim the policy forces them into the black market for currency, increasing costs and straining the local economy. MPL previously defended the move as a way to curb dollar abuse.

EyeCare offers 20 percent discount to mark World Sight Day

To celebrate World Sight Day, EyeCare is offering a 20 percent discount on selected frames with the purchase of prescription lenses through October. Available at all outlets, the promotion aligns with the "Love Your Eyes" theme to encourage eye health. Professionals are on hand to help customers choose the best options for their lifestyle.

Dhiraagu Maldives Junior Open to begin on December 13

Registration is open for the Dhiraagu Maldives Junior Open 2026, a badminton tournament running from December 13 to 19 in Malé. The event features various youth age groups and a Para category to foster local and international talent. Interested players must register by November 25 to compete in this endorsed sporting event.

MTCC has 6700 employees, most positions are contract-based

MTCC reports a workforce of 6,700 employees, with only 2,500 being permanent staff. Following a merger with the Road Development Corporation, the company’s headcount will grow by over 4,000, establishing a presence on every inhabited island. This expansion comes amid criticism over rapid hiring practices within state-owned enterprises.

Moody’s upgrades Maldives credit rating to Caa1

Moody’s has upgraded the Maldives' credit rating from Caa2 to Caa1 with a stable outlook, citing a reduced risk of default after successful debt payments. While the upgrade restores the rating to previous levels, the agency warns of a rising budget deficit and a high debt-to-GDP ratio that remains above 100 percent.

Board appointed for new Awqaf Investment company

The Maldives has formed the board for Maldives Awqaf Investment, a new state-owned enterprise led by Chairperson Izzuddin Adnan. The company will manage mosque construction, renovations, and waqf property development through Shari’ah-compliant activities. It holds an authorized capital of MVR 100 million to ensure project sustainability.

Newsletter

Get the latest news delivered straight to your inbox