FAQs - Investor Relations

FAQs

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1. When is the dividend amount declared?
Under the dividend policy of the Company, Dividend is paid in two tranches as Interim Dividend and Final Dividend.

Interim Dividend is declared after the second quarter results are published, and will be based on the performance of the company during the first half of the financial year. The dividends declared will normally be announced in July/August 2014 and will be paid within 10-15 days of declaration to shareholders bank accounts registered with Dhiraagu.

The proposed final dividend is announced in connection with the annual results, and are announced together with the AGM notice (or before) and will be tabled for shareholders approval at the AGM.

All dividend payments are subject to shareholders approval at the AGM. A standing resolution is made at each AGM granting the directors the authority to declare an interim dividend for the current year
2. When and how can I get a share certificate?
The Dhiraagu IPO was done in Demat (electronic) format. Hence, you have been allotted electronic share/s which is available in your MSD share account. Dhiraagu will not be issuing any share certificate unless requested by shareholders through MSD. Instead, Dhiraagu has issued an allotment letter to all the shareholders which is a formal record of your shareholding in Dhiraagu.

If you want a paper share certificate, you need to apply to MSD who will remove your electronic shares from the MSD account and inform Dhiraagu to issue a paper share certificate.

However, please note that you either can have a paper share certificate or electronic share/s in your MSD account, but cannot have both at the same time. And in order to buy or sell Dhiraagu shares you must have your shares in electronic format. Therefore, if you have taken a paper share certificate and decide to trade in future, your paper share certificate will be destroyed and converted into electronic shares and placed in your MSD share account by MSD again.

Hence we recommend that you keep Demat shares and maintain your MSD account.
3. What is the Annual General Meeting (AGM)?
Annual General Meeting is a meeting with shareholders that is held once a year. Typical agenda items on an Annual General Meeting includes approval of the previous AGMs minutes, approval of the directors report and the Audited Financial Statements of the previous year, approving the Final Dividend for the previous year, The shareholders approve the last year’s financials and accounts, the final dividend, elect Board directors, external audit firm or renew their tenure and vote on any other resolutions.

Details of previous AGMs including the minutes of the meeting, annual report presented and key resolutions made are available from our website.
4. How can I buy or sell Dhiraagu shares?
You can buy or sell Dhiraagu shares through licensed stock brokers of Maldives Stock Exchange. You are required to have MSD (Maldives Securities Depository) Account to trade shares. For trading fees you can check here: https://stockexchange.mv.
5. How can I find the market value of my Dhiraagu shares?
You can find the value of your share by multiplying current share price with the number of shares you hold. Go to the share price page at www.mse.com.mv.
6. Why I have not yet received my allotment letter?
All shareholders who bought shares at the IPO were issued an allotment letter which was posted to the residential address stated in the IPO application form. Dhiraagu has a number of allotment letters which were returned back due to changes in postal address.

If you have not received the IPO letters, please contact Dhiraagu either on 3311121/3311775 during office hours or write to [email protected] You should provide your identification details to expedite the process. Shareholders providing valid identification will be issued the IPO letters within a maximum of two working days.

You may also contact any of our customer front offices or call 3322802 and provide your shareholding details, which will be forwarded to the Dhiraagu Investor Relations Department.
7. When and where will the next Annual General Meeting be held?
Dhiraagu will hold its AGM within 5 months after completion of its financial year which is December 31.
8. When will the dividends be paid?
Interim dividends are declared after the second quarter results are published and will be paid in the second half of the year.
The final dividend will be declared at the AGM and will be paid in the first half of the year.

If you hold shares on the book closure date, you will receive dividend. If you sell your shares before the book closure date, you are not entitled to receive dividend. Record date will be announced in due time every year before the AGM, and in the public announcements declaring the interim dividend.
9. How are dividends paid and taxed?
Under the current Dividend Policy, all Dividend on the shares are paid in MVR, except for the payment of dividend to the major foreign shareholder, which is paid in United States Dollars.

Dividend payments are deposited to the bank accounts registered with Dhiraagu during the time of IPO, or afterwards.

Changes to bank details should immediately be notified to Dhiraagu Investor Relations by completing the this form.

There are no tax on Dividend income or capital gains in the Maldives.
10. How can I change my current address?
You have to download an account information update form from MSD website www.msd.com.mv fill it up and send it to MSD. Dhiraagu will update it from MSD.

Alternatively, you can submit Dhiraagu’s shareholder information update form with your new contact/bank details. The forms can be downloaded here.
11. Who can attend the Annual General Meeting?
To attend the AGM you must be a Dhiraagu shareholder on the book closure date, which is 7 days before the AGM. Book closure dates are announced by the Dhiraagu in the AGM Notice.
12. How do I find out how many Dhiraagu shares I hold?
You should contact MSD to find out about information on your shares. You can ask for your MSD account statement that will show the number of Dhiraagu shares you hold.
12. How do I find out how many Dhiraagu shares I hold?
You should contact MSD to find out about information on your shares. You can ask for your MSD account statement that will show the number of Dhiraagu shares you hold.
13. How do I find out how many Dhiraagu shares I hold?
The original number of shared bought at the IPO are provided in the IPO letter. For details on the number of shares held, you can either contact Dhiraagu Investor Relations Department or MSD. You can ask for your MSD account statement that will show the number of Dhiraagu shares you hold. Your allotment letter issued by Dhiraagu mentions your MSD account number and number of shares allotted to you against your IPO application.
14. Where can I find information about dividend payments in previous years?
You can go to our dividend page for more information about previous years’ dividend payments.
15. How can I change my bank details related to dividend payments?
You can contact MSD to change your bank details.
Alternatively, you can submit Dhiraagu’s shareholder information update form with your new contact/bank details. The forms can be downloaded here.
16. Can I reinvest my dividend to buy more shares in Dhiraagu?
Dhiraagu does not have a reinvestment program as of now. To buy Dhiraagu shares you may contact your stockbroker or Maldives stock exchange.
17. I do not have a MSD share account, how do I open one?
To open an MSD share account, you should contact MSD on 3307878 or visit http://www.msd.com.mv/ to download the relevant forms.

To confirm whether you have an MSD account, please refer to your allotment letter, which states your MSD account number.
18. How do I deal with a death of a shareholder?
Death of a shareholder should be notified to the MSD and Dhiraagu as soon as possible to halt any activity in that account such as payment of dividends.

Deceased shareholders shares will only be transferred when relevant documentary evidence is submitted to MSD providing details of the beneficiaries of the deceased shareholder. Once these documents are submitted, MSD will make the transfers and inform Dhiraagu.

For further information please contact MSD on 3307878 to find out which documents you will need to claim a deceased applicant’s shares.
19. I do not have a MSD share account, how do I open one?
To open an MSD share account, you should contact MSD on 3307878 or visit http://www.msd.com.mv/to download the relevant forms.

To confirm whether you have an MSD account, please refer to your allotment letter, which states your MSD account number.
20. When is the book closure date for the Dhiraagu shares?
The book closure date for the AGM and the payment of final dividend is 7 days prior to the date of the AGM.

Book closure date for the interim dividend payment will be 7 days after shareholders are communicated about the Interim Dividend via a public announcement.

Book closure dates will be communicated to shareholders together with the relevant announcements.

To be eligible for dividend, or participate in an AGM you must be on the share register of the Dhiraagu at the close of the book closure date.
21. Can I get a share certificate?
The Dhiraagu IPO was done in Demat (electronic) format. Hence, you have been allotted electronic share/s which is available in your MSD share account. Dhiraagu will not issuing any share certificate unless requested by shareholders through MSD. Instead, Dhiraagu has issued an allotment letter to all the shareholders which is a formal record of your shareholding in Dhiraagu.

If you want a paper share certificate, you need to apply to MSD who will remove your electronic shares from the MSD account and inform Dhiraagu to issue a paper share certificate.

However, please note that you either can have a paper share certificate or electronic share/s in your MSD account, but cannot have both at the same time. And in order to buy or sell Dhiraagu shares you must have your shares in electronic format. Therefore, if you have taken a paper share certificate and decide to trade in future, your paper share certificate will be destroyed and converted into electronic shares and placed in your MSD share account by MSD again.

Hence we recommend that you keep Demat shares and maintain your MSD account.