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GP approves 250pc cash dividend

  • Special Correspondent
  • 27 April, 2022 12:00 AM
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GP approves 250pc cash dividend

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Grameenphone Ltd. (GP) has approved 250 percent cash dividend at its 25th Annual General Meeting (AGM) held virtually on Tuesday.

In compliance with the Bangladesh Securities and Exchange Commission’s notification for the third consecutive time, Grameenphone conducted its AGM virtually over a digital platform.

Chair of Grameenphone Board Jorgen C. Arentz Rostrup, CEO of Grameenphone Yasir Azman, and other Board members and senior officials of the company were present virtually at the AGM conducted by company Secretary S M Imdadul Haque.

Jorgen C. Arentz Rostrup, Chair of the Grameenphone Board, said, “2021 has been a tremendous learning experience. Throughout the year, our team remained resilient, agile, committed to tackling all challenges of new waves of the Covid-19 variant, and has been able to deliver on the increased demand for connectivity solutions from our customers.”

Despite the challenging time, as a technology service provider and digital connectivity partner  to Bangladesh, we stood by the country with our increased investment, innovations in products and services, and our support to communities in need, he said.

“We look forward to the expected growth momentum as we have significantly invested in network, spectrum, and on boarded network operating partners with advanced and future-fit capabilities. My gratitude goes to our partners, employees, and customers for being with us every day. Together we make things possible.”

Yasir Azman, CEO of Grameenphone, said, “The year 2021 has set a foundation for expediting our future growth, building future-fit¬ capabilities and operational models, and catalyzing meaningful social impacts to support Bangladesh’s ambition to become a self-sustained digital economy.”

We delivered a good set of financial results with improved growth momentum in 2021, driven by increased users and usage due to network and experience enhancements, he said.

“We hope to deliver on our commitments as a digital connectivity partner for the greater good of society in the years to come while creating value for our customers, stakeholders, and shareholders’ lives.”

For 2021, the Board of Directors of Grameenphone Ltd. has announced a final dividend in cash at the rate of 125 percent of the paid-up capital, or Tk 12.50 per share of Tk 10 each.

With this cash dividend pay-out, the total cash dividend stands at 250 percent of the paid-up capital, including the previous 125 percent interim cash dividend pay-out, representing 98.91 percent of the Profit After Tax (PAT) for the year 2022.

To provide the best possible connectivity experience and expedite the nation’s continuous growth, the tech service leader has acquired the maximum allowable 60 MHz of 5G spectrum from the 2.6 GHz band at the auction recently held by Bangladesh Telecommunications Regulatory Commission.

In addition, Grameenphone has made eSIM available for its customers from April 25, 2022, to fuel the digital transformation and environmental benefits. It is noteworthy that past March 26, Grameenphone has completed 25 meaningful years of playing an instrumental role in the development of Bangladesh.