Dhiraagu holds 37th AGM, reports 2025 growth and dividend approval
Dhiraagu has concluded its 37th Annual General Meeting at JEN Maldives Malé by Shangri-La, held in a hybrid format, with shareholders approving all five proposed ordinary resolutions.
A total of 265 shareholders registered to take part in the meeting, including 136 shareholders attending directly and 129 represented by proxy. As in previous years, voting was conducted through ‘FahiVote’, the online general meeting management system developed by Maldives Security Depository Pvt Ltd. Shareholders representing 74,240,990 shares participated in the vote.
The resolutions passed by the required majority included approval of the Directors’ Report and Audited Financial Statements for the year ended 31 December 2025, approval of the full and final dividend for the same period, appointment of the external auditor for the financial year ending 31 December 2026, approval of the standing resolution to declare an interim dividend for 2026, and the election of Asiath Rilweena as Public Director to Dhiraagu’s Board of Directors until the conclusion of the company’s 39th Annual General Meeting.
At the meeting, Dhiraagu also highlighted a number of developments from 2025. These included the inauguration of the Maldives’ first Tier IV Certified Data Centre and the expansion of facilities in N. Velidhoo, aimed at strengthening national digital infrastructure and resilience.
The company also noted that it had received government recognition for achieving 100 per cent fibre-to-the-home coverage across all inhabited islands in the Maldives, placing the country among a limited number of nations with full fibre connectivity.
Dhiraagu further reported that it had received Great Place to Work Certification, with a 93 per cent participation rate, reflecting employee engagement across the business. During the year, the company also expanded its unlimited fibre broadband services, continued its 5G rollout, and recorded growth in digital platforms including cloud services, cybersecurity and mobile financial services.
In terms of infrastructure and international connectivity, Dhiraagu said it had invested through its participation in the SEA-ME-WE 6 submarine cable system and through its partnership with Google on the Dhivaru subsea cable project, which includes plans to establish a new connectivity hub in Addu City.
The company reported revenue growth of 1.8 per cent in 2025, reaching MVR 2.8 billion, driven by mobile, fixed broadband and enterprise services. EBITDA rose by 1.9 per cent to MVR 1.6 billion, while net profit increased by 0.4 per cent to MVR 949 million.
Dhiraagu’s Board of Directors proposed a final dividend of MVR 8.70 per share, which was approved by shareholders. The company said this was in line with the previous year and reflected both its financial position and its continued focus on shareholder returns. The total dividend included an interim payment of MVR 1.66 per share made in 2025 and a final dividend of MVR 7.04 per share.
Dhiraagu said it remains focused on delivering shareholder value while continuing to invest in national connectivity, digital infrastructure and service expansion.
