The State Trading Organisation (STO), one of the Maldives’ leading state commercial enterprises, has approved a dividend distribution of USD 5.51 per share following a strong financial year in which the company recorded USD 1.01 billion in revenue and achieved a net profit of USD 49.49 million. The decision reflects the company’s sustained commercial performance and underlines its continued ability to generate value for shareholders while maintaining a stable position within the Maldivian economy.
The dividend resolution was approved through a shareholder vote at the company’s Annual General Meeting held on Saturday evening, which also marked 25 years since STO first opened share ownership to the public. The meeting was hosted at dusitD2 Feydhoo Maldives, providing a refined and fitting setting for an occasion that combined corporate review with a notable milestone in the company’s public shareholding history. The resort venue contributed an elevated atmosphere to the gathering, complementing the significance of the event and highlighting the confidence and optimism surrounding STO’s future direction.
A total of 263 shareholders participated in the meeting, including 176 who attended in person and 87 represented by proxy. According to the company, the approved dividend represents the highest profit distribution to shareholders in recent years, exceeding the USD 5.19 per share distributed the previous year. The increase further reinforces STO’s record of delivering returns to investors and reflects the strength of its financial management during a period of continued business activity and expansion.
During the meeting, shareholders formally approved the minutes for 2024, as well as the audited financial statements for 2025 and the directors’ report. Ernst & Young was appointed as the company’s external auditor for the upcoming year, while Mohamed Ahsan Saleem was elected by shareholder vote to represent general shareholders on the board. These decisions formed part of the company’s wider governance process and demonstrated continued engagement by shareholders in shaping STO’s institutional direction.
Speaking at the meeting, STO Managing Director Shimad Ibrahim said the company’s shareholders are receiving substantial profit because STO has conducted its business in a sustainable manner over the past 60 years. He further noted that for those who purchased the initial shares, their capital has now increased by 500 per cent, adding that the organisation’s investments remain secure against inflation. His remarks reflected confidence in STO’s long-term business model and its ability to preserve and grow shareholder value over time.
STO also stated that it is currently operating under a five-year strategic action plan, with business expansion and further profit growth remaining among its primary objectives. The company’s latest financial results, shareholder returns and forward-looking strategy together present a positive picture of an organisation that continues to evolve while remaining focused on performance, resilience and long-term commercial sustainability. For investors and international observers alike, the outcome of this year’s meeting signals STO’s steady progress as a mature and trusted enterprise within the Maldives’ economic landscape.
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