State Trading Organisation (STO)) has approved a dividend of MVR 80 per share from its profit for last year.

The figure was passed by 99 per cent of the shareholders present at the annual general meeting held at the seaplane terminal in Hulhulé on Monday. 189 shareholders attended the meeting.

This is the highest dividend the company has approved in the past 17 years.

STO posted a revenue of MVR 16.4 billion last year, down MVR 1.8 billion from MVR 18.2 billion in 2022.

The company posted a net profit of MVR 819 million last year and a net profit of MVR 728 million in 2022.