BML Plans Record Dividend Payout of MVR 50 per Share

In a statement released on Thursday, BML highlighted that the previous year had been exceptionally successful for the bank, culminating in its best performance to date.

With a post-tax profit of MVR 2.07 billion for the year, the dividend payout of MVR 50 per share represents the highest ever distributed by the bank to its shareholders. CEO and Managing Director Karl Stumke expressed satisfaction with the record-breaking results achieved in the past year.

Notably, this is the first instance where BML has recorded a net profit exceeding MVR 2 billion, signaling a remarkable achievement for the institution.

Karl further emphasized that, in light of the bank's outstanding performance, the board has proposed a total dividend payout of MVR 269 million, marking a historic milestone for BML.

As the government holds the largest stake in the bank, this achievement translates to a dividend payment of MVR 136.6 million to the government, in addition to a substantial tax contribution of MVR 628 million for the fiscal year 2023.