The State Trading Organization (STO) has designated 26 June as the ‘record date’ for the distribution of dividends for the financial year 2023, as well as the deadline for registering attendance for its Annual General Meeting. The record date, or the cut-off date, is the day on which STO will finalise the list of shareholders eligible for its forthcoming dividend distribution.

On Saturday, the state-owned company held a ‘Shareholder Engagement Event’ for its shareholders. The event served as a platform for the company to share information about the ongoing preparations for the publication of its annual report and its upcoming Annual General Meeting.

The company also discussed its strategic plans, providing shareholders with a comprehensive overview of STO’s future direction. However, as this was an informal session, no proposals were presented for approval. The focus was on fostering dialogue and understanding between STO and its shareholders.

STO posted a revenue of MVR 16.4 billion for the financial year 2023, marking a 10 percent increase compared to the earnings in 2022.