State Trading Organization (STO) has decided to distribute MVR 85 per share from its business profits of the past year.

The decision was made at the company's Annual General Meeting for the past year, held tonight at "Dusit D2 Feydhoo Maldives".

The decision to distribute MVR 85 as dividend was approved by the vote of 99 percent of the 263 shareholders who attended the meeting.

While STO decided to distribute MVR 85 as dividend, this is an increase of MVR 5 compared to the amount decided for distribution last year.

STO received MVR 785 million as net profit last year. STO received MVR 16.68 billion as revenue last year.

Mohamed Ahsan Saleem was elected as the director representing public shareholders on the STO board for the upcoming year.

Additionally, Ernst & Young was appointed as STO's auditor for MVR 1 million.