Maltapost’s shareholders yesterday approved a final net dividend of €0.04 per share for the financial year ended September 30, 2010. Shareholders will again be given the option of receiving their dividend either in shares or in cash.

Members of the company also approved an extraordinary resolution amending the company’s statute to reflect the Shareholders’ Rights Directive.

Messrs David Stellini and Philip Tabone were re-appointed directors and together with Joseph Azzopardi, Joseph Said, and Aurelio Theuma form the Board of Directors of Maltapost plc.

“Maltapost reported a successful year when, despite increasing competition, higher external operational costs and an uncertain economic climate, it maintained profits at the same level as the previous year,” Maltapost’s chairman, Joseph Said, told shareholders during the company’s AGM.

Profit before tax for the year ended September 30, 2010, at €3.2 million, was maintained at last year’s record level, resulting in an earnings per share of €0.07.

In a statement the company said it looks forward with cautious optimism to a fully liberalised market since it believes that it has the right strategy and policies in place to enable it to continueto grow and expand into new markets.

Mr Said announced that, in line with the policy of investing in potential opportunities that have a medium to long-term growth profile, the board of directors has approved the purchase of the company’s head office building and another building in central Valletta to host Malta’s first postal museum.

“Customer confidence in Maltapost is high. This is the result of consistent improvements in service quality enabling the company to meet and exceed the demanding service levels set by local and international regulatory bodies,”, the company said.

Mr Said informed shareholders that the company made further significant investment in its ICT infrastructure intended to continue improving its service levels, facilitate work processes and add value. This should ensure that a highly responsive service is offered to Maltapost’s customers via its branch network, which itself continues to be improved through a comprehensive refurbishment programme.

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