Ooredoo Maldives has announced a dividend of MVR 3.43 per share for the financial year 2024, marking a rise of MVR 0.16 from the previous year. This decision was officially approved at the company’s Annual General Meeting (AGM), which took place on March 9, 2025, at Ooredoo Maldives Headquarters in Hulhumalé. Shareholders participated both physically and virtually via the “FahiVote” Online Meeting Management System of the Maldives Securities Depository Company Pvt Ltd (MSD).
The AGM saw the attendance of 74 shareholders, including 60 in person and 11 proxy holders representing 14 additional shareholders. A total of 134,282,487 shares were represented at the meeting, accounting for 90.85% of the total issued shares. An overwhelming 99% of shareholders voted in favor of the proposed dividend, reinforcing investor confidence in the company’s financial performance and growth trajectory.
Despite recording a marginal decline in net profit—from MVR 685 million in 2022 to MVR 684 million in 2023—Ooredoo Maldives reported a revenue increase of 5%, reaching MVR 2,203 million compared to MVR 2,097 million in the previous year. The AGM also saw the approval of the company’s audited financial statements and the appointment of KPMG as its external auditor for the year, with an agreed remuneration of MVR 904,514.
Speaking at the meeting, Ooredoo Maldives CEO Khalid Al Hamadi hailed 2023 as a year of strategic success, particularly in expanding the company’s 5G coverage, which now reaches 60% of the Maldives. He also credited various promotional initiatives for the company’s sustained growth and hinted at further special promotions in 2025 as part of Ooredoo’s 20th-anniversary celebrations.
Since its public listing in 2016, Ooredoo Maldives has demonstrated consistent financial resilience, achieving steady revenue growth while maintaining profitability. In addition to approving the dividend, the shareholders also ratified the re-election and appointment of key board members, including Mr. George Bowring Challenor, Mr. Vikram Sinha, and Ms. Moza Mohd A Y Darwish, as nominated by the majority shareholder, Wataniya International FZ-LLC.
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