Maldives Tourism Development Corporation (MTDC) has decided to distribute MVR 0.60 per share as a dividend for the year 2021. The dividend was passed during the Annual General Meeting (AGM) of MTDC, held on June 9.
MTDC generated a net profit of MVR 211.8 million last year. It is a major increase from the MVR 50.8 million generated as profit in 2020. MTDC attributed the increased profit to the increased sublease investments. During the AGM, MTDC passed a dividend of MVR 0.60 per share to be distributed among its shareholders. The company had distributed MVR0.50 per share as a dividend for 2020.
MTDC generates revenue by subleasing islands for tourism development. The company currently generates revenue from two subleased resorts. They are Anantara Kihavah Resort and Ayada Maguhdhoo Resort.