Dhiraagu has decided to pay MVR 2.07 as Interim dividend per share.
Dhiraagu stated its performance was greatly affected in reaching its expected goals this year due to the COVID-19 pandemic. With the negative change in economy due to covid-19, revenue of Dhiraagu decreased by 25% than expected in 1st quarter of 2020.
Closing of Maldivian border due to covid-19 in the 2nd quarter, main areas of business by Dhiraagu was affected, especially with the halt of tourism in Maldives. Net profit of the company during this period was reduced by 49%. This led to a 50% reduction in dividend payments compared to the last quarter.
Dhiraagu also stated that the company’s board of directors are working towards organising its long term investments in a way that it will make the company’s financial state more strong while keeping shareholders’ interest in a more profitable way.
With all these factors ,it’s been decided to pay MVR 2.07 as interim dividend per share, a total of MVR 157,320,00.
