Ooredoo Maldives To Distribute MVR 2.34 Per Share As Dividends For 2020

Ooredoo Maldives Public Limited Company, is the local subsidiary of Qatari-based telecommunications company Ooredoo, a leading international telecommunications company.

Last night, the company held their Annual General Meeting virtually through the online meeting management system – FahiVote – with 44 shareholders in attendance who in total accounts to over 1.34 million shares from the company.

During the AGM, it was unanimously decided that the telecommunications company would be distributing 85% of the profits at a rate of MVR 2.34 per share as dividends for 2020. They had also appointed the audit firm Waterhouse Coopers as their auditors for this year for a fee of USD 59,600.

According to the Annual Report 2020 which was also passed in this meeting, the telecommunication company made a profit of MVR 407 million after taxes for the year which is a significant decrease when compared to the MVR 588 million recorded last year. The loss is attributed to the ongoing COVID-19 pandemic. Nevertheless, during this period, shareholders of the company has increased as well as amount of customers according to the CEO & Managing Director, Mr. Najib Khan.

The majority shareholder of Ooredoo Maldives is Wataniya International FZ-LLC holding 90.5% shares whereas Maldives Pension Administration Office holds 5.64% of the shares and the remaining 3.86% shares are held by the general public.