The board of directors of the Maldives Islamic Bank (MIB) today (March 26) decided to seek approval for a dividend of MVR 129 million at the annual general meeting.
The audited financial reports for 2025 were approved at the meeting. The dividend of MVR 129 million is an increase of MVR 26 million or 25.81 percent compared to 2024.
If the proposal is approved, a dividend of MVR 5.41 will be distributed per share. This is a significant increase from the MVR 4.58 per share last year.
MIB said 2025 was a very successful year for the bank. The bank also highlighted that 2026 marks the 15th anniversary of the introduction of Islamic banking in the Maldives. The dividend payout ratio is also up 35 percent.
The board's decision will be finalized at the 16th Annual General Meeting in May.
In addition, the bank said its non-resident shareholders could be subject to a 10 percent withholding tax under the Maldivian Income Tax Act. However, the bank has asked shareholders to submit the information as soon as possible as this is a tax only on shareholders who have not declared their residency status.
