General Meeting: MAPNA Group Reveals 350 Rial Dividend for Each Share

In a General Meeting (GM), MAPNA Group approved the distribution of dividends to shareholders for the fiscal year ending on April 20, 2023.

The meeting was held on September 4, 2023, in Tehran with the participation of 76 percent of shareholders.

Shareholders will receive 350 IR Rial per share, according to the approval of the board.

MAPNA Group President Mohammad Owliya also attended the event along with several board members and inspectors.

At the outset of the session, Owliya provided a report on the activities and achievements of MAPNA Group in the related fiscal year.

Owliya reported that the conglomerate’s net profit for the fiscal year amounted to 80 trillion Rials (about $160 million), while its revenue reached 280 trillion Rials ($560 million).

He went on to name MAPNA Group activities in the power sector which included synchronizing 35 power plant units in 15 projects with a total capacity of 3,747 MW, temporarily delivering 11 power plant units in eight projects with a total capacity of 1,691 MW, and permanently delivering 15 power plant units in 12 projects with a total capacity of 2,028 MW.

Furthermore, Owliya pointed to the activities of MAPNA Group subsidiaries in services, investment, transportation, oil and gas. The conglomerate signed 43 contracts for parts supply and 51 for overhaul projects, four small-scale power plants, and five renewable power plants, he said, also pointing to the delivery of 27 MAP24-1 freight locomotives, producing a thousand wagons, and continuing the construction and completion of the Isfahan and Tehran metros as well as executive activities in Danan, Parsi and Paranj, and Khangiran oil fields.

Owliya then outlined MAPNA’s plans for developing new products and services. He said: “We plan to optimize power plant equipment, build F class steam generators domestically, improve locomotives, manufacture braking systems domestically, complete the MGT-75 construction, improve the performance of various turbine parts, launch a 25 MW trailer-mounted power plant, implement a 50 kW multi-protocol electric vehicle fast charger, and prototype metro wagons.”

He also gave an estimate of the plans for the fiscal year ending on April 20, 2024. He said: “We expect to synchronize 30 power plant units with a capacity of 3,710 MW in this period. However, this depends on the clearance of debts and the cooperation of government agencies.”

Following his address, an independent auditor as well as a legal inspector also read their reports on the group’s financial statements.

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