State-owned enterprises have paid MVR 87.8 million as dividends to the government.
The most recent Weekly Fiscal Development Report published by the Finance Ministry shows MVR 81.3 million was paid as dividend up to March 17, 2021. However, the amount received increased during the same period this year to MVR 87.8 million.
While there are over 30 state-owned enterprises, dividend is declared by only a few companies. Although the number of companies that paid dividends has not been publicized, mainly ten companies pay a high dividend to the government. The most significant amount was paid as dividend last year by telecommunication company DHIRAAGU, paying MVR 226 million in 2021. Bank of Maldives followed behind, paying MVR 128 million, while Maldives Airports Company Limited and State Trading Organization each paid MVR 57 million. Utility company MWSC paid 30 million, while STELCO and HDFC each paid 21 million. Maldives Transport and Contracting Company (MTCC) paid MVR 15 million.
The government expects to receive over MVR one billion as dividends from 32 state-owned companies this year.
