The State Trading Organisation (STO) has announced its approval of a dividend distribution amounting to USD 5.20 per share, marking the highest payout in the company’s recent history.
The decision, made by the STO Board of Directors, will be presented for shareholder approval at the upcoming Annual General Meeting (AGM). If ratified, this dividend will surpass last year’s distribution of USD 4.99 per share and represent the most substantial payout in 17 years.
STO reported robust financial performance for the previous year, achieving a revenue of USD 1 billion alongside an operating profit of USD 78 million. The company’s pre-tax profit stood at USD 64 million, with a net profit after tax totaling USD 53 million. The increase in profitability was attributed to strong fuel sales and growth in other business segments.
The 2023 AGM is scheduled for July, where shareholders will vote on the proposed dividend distribution, reflecting STO’s commitment to delivering value to its investors amidst favorable financial results.
