Maldives Transport and Contracting Company (MTCC) has decided to issue MVR 24 as dividend per share from revenue generated by the company in 2016.
The 2016 Annual General Meeting of MTCC was attended by 194 shareholders. During the meeting, it was decided to issue a total of MVR 12 Million as dividends from the revenue generated in 2016. This amounts to MVR 24 per share.
During the meeting, a declaration on stock split was also passed unanimously by all shareholders present. The declaration will allow MTCC to divide per share into 10. Following this move, the share value will go down from MVR 50 to 5. The company also passed amendments to its regulations following the decision to stock split. MTCC posted MVR 115 Million as profit in 2016.