Bank of Maldives Ltd. (BML) convened its Annual General Meeting on Tuesday, where shareholders greenlit a historic total dividend payout of MVR 269 million at MVR 50 per share, marking the highest in the bank’s history. This year’s dividend payout reflects a substantial 25.11 percent increase from the previous year’s total dividend payout of MVR 215 million at MVR 40 per share.

Karl Stumke, BML’s CEO and Managing Director, expressed that the complete dividend distribution represents the highest in the bank’s history, underscoring its exceptional performance in 2023. Stumke extended gratitude to BML’s loyal customers and reaffirmed the bank’s commitment to enhancing the banking experience and ensuring it remains effortless and convenient.

Stumke also emphasised, “We will continue to uphold the highest standards of governance and customer centricity, with a focus on digitalisation while striving to create a more sustainable and inclusive future for all. Together, we will continue to build a stronger, more prosperous future for Bank of Maldives and the nation we serve.”

The government, as the largest shareholder, is set to benefit from the dividend payout, with MVR 136.6 million and MVR 628 million in tax for the year 2023.