Income from dividends reach above projections

In this photo, the building that houses the Finance Ministry of the Maldives and Maldives Inland Revenue Authority is seen. The income for the state from shares owned in companies increased above expectations, according to the Finance Ministry on November 14, 2019. (Sun Photo/Fayaz Moosa)

The income to the state from the companies with government shares was higher than expected according to the statistics of the Finance Ministry.

The Ministry expected around MVR 874 million as dividends, but gained MVR 1,407.3 million as returns from dividends, indicating strong performances and high income as well as cash flow of these companies.

It is expected that dividends from shares of the state in companies would yield MVR 1.3 billion in the state budget of 2020.

By Ahmedulla Abdul Hadi

Journalist