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MTCC to Distribute MVR 2 Per Share Despite Sharp Drop in Annual Profit

Maldives Transport and Contracting Company (MTCC) has approved a dividend of MVR 2 per share from last year’s profits, despite a significant drop in earnings.The decision was made at MTCC’s Annual ...

Mohamed Hilmy

18 June 2025, 00:00

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MTCC to Distribute MVR 2 Per Share Despite Sharp Drop in Annual Profit

Maldives Transport and Contracting Company (MTCC) has approved a dividend of MVR 2 per share from last year’s profits, despite a significant drop in earnings.

The decision was made at MTCC’s Annual General Meeting held last night at Barcelo Nasandhura. It was approved with 99.5 percent shareholder support, with 156 shareholders attending the meeting.

According to the company’s annual report, MTCC recorded a net profit of MVR 45 million in 2024 — a 53 percent decline compared to the MVR 97 million profit posted the previous year.

The decrease is mainly attributed to a 37 percent drop in revenue from the company’s construction and dredging sectors, which together account for roughly 80 percent of total revenue.

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