Maldives Islamic Bank PLC has announced that its Board of Directors has recommended a cash dividend of USD 8,407,725, equivalent to USD 0.35 per share, for the financial year ended 31 December 2025, reflecting the bank’s strong performance and continued growth in the Maldivian banking sector.
The recommendation was made at a meeting of the Board of Directors convened to approve the bank’s audited financial statements for 2025. The proposed dividend demonstrates the bank’s solid financial position and its sustained commitment to delivering value to shareholders while maintaining prudent financial management in a competitive operating environment.
According to the bank, the proposed dividend marks an increase of USD 1.68 million compared to the previous year. This represents a 35 percent payout ratio and a 25.81 percent increase from the 2024 dividend, underscoring the institution’s strong earnings momentum and the confidence of the board in the bank’s future outlook. The recommendation will now be submitted to shareholders for approval at the bank’s 16th Annual General Meeting, which is scheduled to be held in May 2026.
In addition to announcing the proposed dividend, the bank has also reminded shareholders to ensure that their residency status is updated in accordance with the Income Tax Act of the Maldives. Maldives Islamic Bank noted that dividends are subject to a 10 percent Non-Resident Withholding Tax, and shareholders have been advised that residency details may be updated until the date of the Annual General Meeting this year. The reminder is expected to assist shareholders in ensuring that dividend-related matters are processed smoothly and in compliance with prevailing legal requirements.
The announcement comes after what the bank described as a highly successful year in 2025, further strengthening its position as a key player in the country’s financial services industry. The latest dividend recommendation not only reflects the bank’s operational success, but also highlights its ability to generate sustainable returns while continuing to support the growth of Islamic finance in the Maldives.
This year also carries special significance for Maldives Islamic Bank, as it marks the 15th anniversary of the introduction of Islamic banking services in the Maldives by the bank. Over the years, the institution has played an important role in expanding access to Shariah-compliant financial solutions and supporting the broader development of the country’s banking landscape. The proposed higher dividend therefore stands as both a reflection of recent financial success and a meaningful milestone in the bank’s ongoing journey of service, innovation and contribution to the national economy.
For shareholders and the wider business community, the board’s recommendation sends a positive signal about the bank’s resilience, strategic direction and long-term strength. As Maldives Islamic Bank enters its next chapter, the institution continues to demonstrate its commitment to responsible growth, shareholder confidence and the advancement of Islamic banking in the Maldives.
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