STO to distribute USD4.99 per share as dividend

State Trading Organisation (STO) has approved the distribution of USD4.99 per share as the dividend for the year 2022.

At the annual general meeting (AGM) shareholders of STO approved the distribution of dividends, which is the highest in the past 10 years. The amount is an increase of USD0.77 compared to the distribution of USD3.76 per share as a dividend for 2020. The AGM held at Central Park in Hulhumale' approved a dividend of USD4.99 per share with 99% votes from more than 300 shareholders.

STO posted an operating profit of USD64.8 billion by the end of 2022. The company posted a total revenue of USD1.2 billion in 2022, according to the quarterly report, which is a 79% increase compared to the total revenue of USD661.4 million in 2021. STO also posted a net profit of USD48.1 last year.