MTCC shareholders approve three Rufiyaa dividend per share for 2025

The shareholders of Maldives Transport and Contracting Company (MTCC) have approved the distribution of three Rufiyaa per share as share dividend for the year 2025. The decision was made at the company’s annual general meeting held tonight. According to a statement issued by MTCC, the dividend of three Rufiyaa per share was approved for shares with a face value of five Rufiyaa. A total of 59 shareholders participated in the meeting, which was conducted online through the “Favowathu” web application of Maldives Securities Depository (MSD). An additional 14 shareholders were represented via proxy, and a total of 5,602,272 shares, representing 69.75 percent of shareholders, were represented at the meeting. Following the 2025 Annual General Meeting, Non-Executive Independent Director Mohamed Imran Adnan and Non-Executive Director Nasrathu Mohamed have stepped down from their positions upon completion of their terms. After evaluating candidates, Hussain Hassanfulhu was appointed as the Non-Executive Independent Director. MTCC stated that it will hold a special general meeting to elect a director for the currently vacant position among directors representing ordinary shareholders, and the process will be announced publicly. In addition to the share dividend, shareholders approved the audited balance sheet for 2025, the profit and loss account, and the directors’ report. The minutes of the 2024 Annual General Meeting and proposed amendments to the company’s articles of association were also approved. Deloitte Partners has been appointed as the auditor for MTCC for the year 2026. MTCC reported a net profit of 84.8 million Rufiyaa for last year after deducting tax, approximately double the amount compared to the previous year.