Maldives Tourism Development Corporation (MTDC) shareholders have approved a dividend of MVR 0.50 per share following a year in which the company recorded growth in its net profit.
The dividend was approved at MTDC’s Annual General Meeting held at Hotel Jen, with 98.9 percent of participating shareholders voting in favour of the Board’s recommendation.
A total of 1,223 shareholders participated in the AGM, including shareholders attending online and those represented through proxies.
The approved payout maintains MTDC’s dividend at the same level as the previous year, when shareholders also received 50 Laari per share.
MTDC said the latest dividend will be distributed to shareholders who were registered in the company’s shareholder registry as of August 11, 2026.
The decision comes after MTDC reported a net profit after tax of USD 2 million for 2025, representing an increase of approximately 6.5 percent from the USD 1.9 million recorded in 2024.
Shareholders also approved the company’s audited financial statements for 2025 and the Directors’ Report during the meeting. Minutes from MTDC’s 2025 AGM were also approved.
Five public shareholder representatives elected to Board
Five members were elected at the AGM to represent public shareholders on the MTDC Board for a two-year term.
The elected representatives are:
- Aminath Azlifa
- Minna Rasheed
- Aishath Liza
- Ibrahim Latheef
- Ahmed Muizzu
The AGM also approved the appointment of Ernst & Young as MTDC’s external auditor for the coming year. The firm’s remuneration was set at USD 28,350.
MTDC Public Limited was established by the government in 2006 as a tourism development company jointly owned by the state and members of the public.
Its establishment was intended to provide Maldivians with a more direct opportunity to participate in and receive economic benefits from the country’s tourism industry, which remains the Maldives’ largest source of foreign currency earnings and a central contributor to economic activity.
The company’s structure allows members of the public to hold shares alongside the government, making dividend distributions and MTDC’s financial performance particularly relevant to its individual shareholders.
With the latest decision, shareholders eligible for the 2025 profit distribution will receive MVR 0.50 for each share held, maintaining the payout at the same rate as the previous year despite the company’s year-on-year increase in net profit.
