State Trading Organization Plc (STO) has approved a dividend of MVR 85 per share; the highest dividend payout in the company’s history.

The decision was approved at the company’s Annual General Meeting (AGM) held on Saturday evening. STO noted that the announcement comes as the company marks 25 years since it was first listed and its shares were made available to the public.

The AGM was held at dusitD2 Feydhoo Maldives and attended by shareholders and proxy representatives. A total of 263 shareholders took part in the meeting, including 176 who attended in person and 87 represented by proxy.

The dividend was approved through a vote by shareholders present at the meeting. STO stated that this is the largest dividend ever declared by the company.

Last year, the company distributed a dividend of MVR 80 per share.

STO reported revenue of MVR 15.55 billion in 2025 and recorded a net profit of MVR 763 million. Based on these earnings, shareholders approved the MVR 85 per share dividend.

During the AGM, shareholders also approved the minutes of the 2024 AGM, the audited financial statements for 2025, and the Board of Directors’ report.

Shareholders further appointed Ernst & Young as STO’s external auditor for the coming year and approved an audit fee of MVR 1,009,800.

In addition, Mohamed Ahsan Saleem was elected to represent public shareholders on STO’s Board of Directors.

Speaking at the meeting, STO Managing Director Shimad Ibrahim said the company’s consistent growth over the past 60 years has generated substantial returns for shareholders. He noted that the value of investments made by those who purchased shares when they were first offered to the public has increased by more than 500 per cent.

He also said STO’s investments have helped protect shareholder value against inflation.

STO stated that it is currently implementing a five-year Strategic Action Plan aimed at increasing profitability further and expanding the company’s business operations over the next five years.