State Trading Organization (STO) has approved a dividend of MVR 85 per share based on last year’s profits.

Previously, STO paid MVR 80 per share for the past two years. This year's dividend represents an increase of MVR 5 per share compared to the previous two years.

The dividend was approved at the Annual General Meeting with 99 percent support from the 263 shareholders present. Of these, 176 shareholders attended in person, while the remaining participants voted by proxy.

According to STO’s latest financial reports, the company achieved a net profit of MVR 276 million in the first quarter of this year. Additionally, STO’s revenue grew by 33 percent in the first quarter compared to the same period last year, rising from MVR 4.14 billion to MVR 5.49 billion.

Additional STO statistics include:

- Operating profit: MVR 368 million, up from MVR 322 million in the last quarter of the previous year, marking a 14 percent increase year-over-year.

- Net profit: MVR 276 million, compared to MVR 244 million in the last quarter of last year, representing a 13 percent growth.