Ooredoo shareholders to get MVR 2.34 as dividend per share for 2020

Annual General Meeting of Ooredoo Maldives for the year 2019. | Photo via Corporate Maldives.

Malé, Maldives — The Maldivian branch of the international telecommunications company, Ooredoo has decided to distribute MVR 2.34 as dividend per share for shareholders of their company for the year 2020.

Ooredoo had earlier announced that they will be holding their Annual General Meeting (AGM)on Tuesday, 2nd March 2021, at 20:30 virtually through the Online Meeting Management System “FahiVote” of the Maldives Securities Depository Company Pvt Ltd (MSD).

The 2020 yearly meeting of Ooredoo was attended by 44 shareholders who had successfully procured over 1.34 million shares from the company. While the telecommunication company had decided to distribute 85% of their profit at a rate of MVR 2.34 per share.

The statistics shows that one of the largest telecommunication company, Ooredoo had received MVR 407 as the profit for the year 2020. This is a huge decrease compared to the net profit the company had recorded in 2019, at MVR 588 million. On 2018, Ooredoo had earned a profit of MVR 525 million.

While speaking at the AGM that was held last night, the CEO and Managing Director of Ooredoo Maldives, Najib Khan stated that Covid-19 has brought great losses and difficulties to Maldives along with the whole world. He thanked Ooredoo Maldives employees for the hard work they have been doing, despite the pandemic.

Khan noted that despite the Covid-19 pandemic, the shareholders of Ooredoo company had increased along with a rise in customers as well. With this, he informed that the amount at which customers use different services has increased within the past year as well.

We also received multiple awards last year.

Najib Khan stated.

Ooredoo Maldives has announced that this year their audit farm will be Waterhouse Coopers at a price of USD 59,600.

Launced in August 01, 2005 as Wataniya Telecom Maldives, Ooredoo is one of the two mobile telcos operating in the Maldives.