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State Trading Organization (STO) has passed to distribute MVR 65 per share as dividend to its shareholders during the Annual General Meeting (AGM).
STO held its Annual General Meeting (AGM) 2021 on May 30, 2022, Crossroads Maldives. The amount was passed at AGM with the vote of 99 percent of the 782 shareholders who attended the meeting.
STO Group earned MVR 11.2 billion as revenue from various businesses last year, while the company earned MVR 6 billion from the oil business alone. Moreover, STO also generated MVR 3 billion from genet businesses, MVR 1.2 billion in the fisheries sector and MVR 206 million from gas businesses. STO’s total revenue grew by 32 percent last year.
STO’s net profit after tax was MVR 478 million last year. This is an increase of 33% compared to the previous year. In addition, STO Group made a profit after tax of MVR 186 million. This is an increase of 47 percent compared to the previous year.
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