Grameenphone declares 95% cash dividend for shareholders

The country’s largest mobile phone operator Grameenphone on Tuesday declared a 95 per cent final cash dividend to its shareholders for 2022 through Dhaka Stock Exchange (DSE).

The top firm in terms of market capitalisation already paid a 125 per cent interim cash dividend. The total dividend stood at 220 per cent cash which was 98.72 per cent of its total profit.

The multinational company's profits dropped by around Tk 400 crore in 2022 due to a ban on the sale of its SIM for six months.

GP’s profit after tax dropped by 11 per cent to Tk 3,010 crore in the year ending recently. It was Tk 3,412 crore in the previous year.

Thus, its earnings per share (EPS) stood at Tk 22.29 whereas it was Tk 25.28 previously.

Though its profits fell, the telecom company's revenue crossed Tk 15,000 crore for the first time. In the previous year, its revenue amounted to Tk 14,306 crore.

On June 29, 2022, the telecom regulator banned GP's SIM sales until it "improves its quality of service including bringing down call drop rate. The ban was lifted on January 3, 2023.  

Its net profit dropped by 8.22 per cent or Tk 305.8 crore to Tk 3,413 crore in 2021 from Tk 3,719 crore in the previous year.

To approve the dividend and audited report, GP will conduct AGM on May 2 this year. The record date is February 26.