STO has approved a dividend of MVR 85 per share from its 2025 profits.
The approved dividend marks the third consecutive increase in STO’s shareholder payout, following MVR 77 per share in 2023 and MVR 80 in 2024.
Managing Director Shimad Ibrahim said the company remains optimistic about future growth, with a target to raise annual net profit to MVR 1 billion by 2030. He said STO will focus on expanding business volume while maintaining strong returns.
STO recorded MVR 16.68 billion in group revenue and MVR 785 million in net profit for the year. The company said oil sales increased despite lower oil prices and reduced shipping revenue.
Shareholders also elected Mohamed Ahsan Saleem to the board and appointed Ernst & Young as the company’s external auditor.
