Frequently Asked Questions
1. Who are the shareholders of STO?
The Government of Maldives holds 919,869 shares with 81.37% shareholding in the Company, while the Public hold 207,041 shares with 18.63% shareholding.
There is no individual shareholder other than the Government, that hold up to 5% of the share capital.
2. What is the area of operation?
STO is a Trading Company that provide fuel, construction materials, supermarket products, home appliances, staple food, medicine and medical equipment.
STO plc along with its majority owned subsidiaries form STO Group of Companies, where its business operations range from providing insurance services, LPG and medical gas, fuel distribution services, shipping and cargo vessel operations and manufacturing and selling of roofing sheets.
3. Where and which year was STO incorporated?
STO was incorporated as a Government Company, Athireemaafannun Trading Account (ATA), on 20th December 1964 and renamed as State Trading Organization on 9th June 1979. STO became a public listed Company in 2001.
4. What is the legal form of STO?
STO is a listed company with limited liability.
5. What is the employee strength of the STO Group of Companies?
STO and its subsidiaries have over 4,000 staff employed.
6. What is the registered address of STO?
STO Head Office
Kanbaa Aisa Rani Hingun, Maafannu
Malé 20345
Republic of Maldives
Tel: 1422
Website: sto.mv
7. When does the financial year of STO end?
On 31st December of every year
8. Which stock exchange is STO listed on?
9. Where can I obtain information on the financial results of STO?
You can obtain quarterly financial statements and annual reports from here .
10. When is the Annual General Meeting held?
Before 30th May of every year
11. What are the shareholders voting right at AGM?
- Any resolution passed at an Annual General Meeting and Extraordinary General Meeting shall be by vote of the members.
- Voting at all meetings of the Company shall be by show of hands where each member represent 1 (one) vote. In the event where members representing not less than 10% of the shares of the Company request, voting maybe conducted on poll basis. In this case each member shall be entitled to vote for each share held by him or her.
- The chairman of the meeting shall be the sole judge as to the validity of every vote tendered at an Annual General Meeting or Extraordinary General Meeting and the results of the votes.
- In case of any equality of votes at an Annual General Meeting or Extraordinary Meeting of the Company, the Chairman of the meeting shall be entitled to a casting vote in addition to his or her own vote or votes to which he or she is entitled as a member.
12. When did STO make its IPO and what was the listing price? Were there any follow-on offerings?
| Issue Date | Total ## of Shares Offered | Issued Price | ## of Shares Subscribed | ## of Applications Received | Government Shares | Government % | Public Shares | Public % |
|---|---|---|---|---|---|---|---|---|
| 15th Aug to 30 Sep 2001 | 111,555 | MVR 300.00 | 26,040 | 1,046 | 1,040,000 | 97.56 | 26,040 | 2.44 |
| 01 Sep to 30 Sep 2003 | 50,000 | MVR 400.00 | 60,870 | 1,240 | 1,040,000 | 92.29 | 86,910 | 7.71 |
| 25th Nov 2009 to 15th April 2010 | 138,472 | MVR 400.00 | 113,012 | 1,154 | 926,988 | 82.26 | 199,922 | 17.74 |
| Provident Fund Share issue by Govt | MVR 400.00 | 7,119 | 204 | 919,869 | 81.63 | 207,041 | 18.37 |
13. What was the Dividend Per Share paid out of STO?
| Year | Dividend per Share (MVR) |
|---|---|
| 2002 | 118.00 |
| 2003 | 110.00 |
| 2004 | 70.00 |
| 2005 | 55.00 |
| 2006 | 82.00 |
| 2007 | 70.00 |
| 2008 | 65.00 |
| 2009 | 68.00 |
| 2010 | 68.00 |
| 2011 | 72.00 |
| 2012 | 75.00 |
| 2013 | 24.00 |
| 2014 | 76.00 |
| 2015 | 57.00 |
| 2016 | 51.00 |
| 2017 | 55.00 |
| 2018 | 58.00 |
| 2019 | 58.00 |
| 2020 | 60.00 |
| 2021 | 65.00 |
| 2022 | 77.00 |
14. When is dividend declared?
At the Annual General Meeting
15. What is the policy on appointment of members to the Board of Directors?
You can find the policy here.
16. What is the current share price?
You can find the current share price from Maldives Stock Exchange