STO to distribute MVR 80 per share

State Trading Organisation (STO), has approved the distribution of MVR 80 per share from its last year's profit.

The consensus was reached at STO's Annual General Meeting held at the Seaplane Terminal in Hulhumale' on Friday evening with 99 percent of the votes of the shareholders present at the meeting.

This is the highest amount the company has approved to distribute per share in the last 17 years.

STO earned MVR 16.4 billion in revenue last year - MVR 1.8 billion less compared to the MVR 18.2 billion earned in revenue in 2022.

STO recorded a net profit of MVR 819 million in 2023 compared to the MVR 728 million in 2022.