The State Trading Organization (STO) has announced that its Annual General Meeting (AGM) will be held on May 16, where shareholders are set to vote on key financial and governance matters, including a proposed record dividend.
The meeting is scheduled to take place at 9:00 PM at Feydhoo Hall in Dusit D2 Feydhoo Maldives, with an option for shareholders to attend virtually via Microsoft Teams.
Registration and Participation
STO said shareholders intending to participate must complete registration by May 15. The company has also encouraged participants to submit questions in advance through its shareholder portal.
Financial Reports and Dividend Vote
Among the main items on the agenda is the approval of the company’s annual report and audited financial statements for the past year, alongside statistical reports prepared by the Board of Directors.
The Board has proposed a dividend of MVR 85 per share, which will be put to a vote during the meeting. If approved, this would mark the highest dividend payout by the company in the past 18 years.
For comparison, STO distributed MVR 80 per share in dividends last year.
Eligibility for the dividend will apply to shareholders listed in the company’s register as of April 27, 2026.
Board Composition and Elections
The AGM will also address the composition of STO’s Board of Directors. While government-appointed positions remain unchanged, a vote will be held to elect representatives for public shareholders.
Two candidates are contesting for these positions, following the close of the nomination period earlier this year.
Shareholders will also consider the appointment of external auditors for the upcoming year and determine their remuneration.
In addition, proposed amendments to STO’s Articles of Association will be presented for approval, aimed at aligning the company’s governance framework with the newly enacted Maldives Companies Act.
The AGM is expected to be a significant event for shareholders, offering an opportunity to review the company’s financial performance and participate in decisions shaping its future direction.
