Dhiraagu has successfully concluded their 36th Annual General Meeting (AGM) at Crossroads Maldives, conducted as a hybrid meeting. A total of 144 shareholders registered to participate at the meeting, including 113 shareholders and 36 shareholders represented by proxy. As in previous years, all registered shareholders voted through ‘FahiVote’, an online General Meeting Management System developed by Maldives Security Depository Pvt Ltd. With shareholders representing 71,335,282 shares, all four proposed ordinary resolutions were successfully passed.
The following four resolutions were passed by the required majority:
1. Approval of Directors’ Report and Audited Financial Statements for the year ending 31 December 2024.
2. Approval of Full and Final Dividend for the year ending 31 December 2024.
3. Appointment of External Auditor for the financial year ending 31 December 2025.
4. Standing Resolution to Declare Interim Dividend for the year 2025.
Key Achievements in 2024
1. Nationwide Fibre-to-the-Home (FTTH) Rollout: Successfully completed in 2024, providing fibre broadband access to 100% of national households. This milestone places the Maldives among global leaders in digital accessibility, enabling innovation, remote work, e-commerce, and enhanced public services across the nation.
2. Strongest Digital Presence: Dhiraagu has solidified its position as the leading digital service provider in the Maldives, achieving 100% mobile coverage and operating the largest high-speed mobile and fibre broadband network.
3. Fastest Mobile Network: Recognized as the “Maldives’ Fastest Mobile Network” by Ookla® for the third consecutive year.
4. 5G Network Expansion: Expanded 5G coverage to 61% of the population, ensuring cutting-edge connectivity for businesses and individuals.
5. Internationally Recognised Certifications: Dhiraagu maintained its commitment to excellence in security, reliability, and infrastructure, achieving:
Strong Financial Performance
Dhiraagu delivered 5.9% revenue growth in 2024, reaching MVR 2.8 billion, driven by strong performance in mobile, fixed broadband, and enterprise services. EBITDA rose by 5.1% to MVR 1.6 billion, while net profit increased by 5.5% to MVR 946 million.
The company invested MVR 574 million in expanding the high-speed network, enhancing international connectivity, and upgrading infrastructure to meet growing demand. These investments ensure continued network resilience and future-proof digital solutions for customers
Commitment to Shareholder Value
Dhiraagu remains dedicated to delivering sustainable shareholder value, consistently ensuring healthy dividend payments. The Board of Directors proposed a final dividend of MVR 8.70 per share, which was approved by shareholders, marking a 16% increase from the previous year. The total dividend includes an interim payment of MVR 1.66 per share made in 2024 and the proposed final dividend of MVR 7.04 per share.
To read Dhiraagu Annual Report 2024, please visit: https://bit.ly/41rpnka
