Tuesday 18th Jun 2024
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Bank of Maldives

Bank of Maldives to payout MVR 258m to shareholders

Bank of Maldives shareholders has approved a total dividend payout of MVR 258 million with MVR 48 per share, at the Bank’s Annual General Meeting held at Hotel Jen tonight. This is a record dividend payout reflecting the Bank’s best-ever performance in 2021.
BML’s CEO and Managing Director Tim Sawyer commented “Earlier this year, an interim dividend of MVR 13 per share was paid. Shareholders have tonight approved a total dividend of MVR 48 per share. This MVR 48 per share includes the interim dividend of MVR 13 per share paid out earlier this year. This is the highest approval in the Bank's history.
“I would like to extend my appreciation to our staff for their hard work and to our shareholders and customers for their confidence in the Bank. While we will continue to work tirelessly to meet service expectations, the results today are evidence that the Bank is in the strongest position it has ever been in.”
The total dividend payout for the year 2021 is MVR 258 million and the Government, as the biggest shareholder, stands to benefit with MVR 131 million as dividend and a further MVR 543 million as tax for the year 2021.
In 2020, the Bank distributed MVR 80.7 million as the final dividend, at a rate of MVR15 per share.