GP declares 145% cash dividend in virtual AGM

Published at 08:33 am April 19th, 2021

Top Grameenphone (GP) officials address the 24th annual general meeting of the company, which was held virtually on Monday, April 19, 2021 Courtesy

The total cash dividend now stands at 275% of the paid-up capital, including the previous 130% interim cash dividend pay-out

Grameenphone (GP)'s board of directors announced a cash dividend of 145% of the paid-up capital, or Tk14.5 per share of Tk10 each, for the year 2020 during its 24th annual general meeting (AGM) held virtually on Monday.

The AGM was held virtually for the second time, in accordance with the instructions set by the Bangladesh Securities and Exchange Commission and considering the health and safety of all the attending shareholders, staff, and others amid the Covid-19 pandemic, said a press release.

During the meeting, it was also announced that with this cash dividend pay-out, the total cash dividend stands at 275% of the paid-up capital, including the previous 130% interim cash dividend pay-out, amounting to 99.86% of profit after tax for the year 2020.

GP wants to remain fixated on its operational efficiencies and strategies to ensure better coverage and customer-driven initiatives, the release also said.

The company last month acquired an additional 10.4 MHz spectrum in the BTRC auction, amounting to a total of 47.4 MHz spectrum.

On top of additional spectrum acquisition, GP also celebrated 50 years of Bangladesh on March 26 by announcing all its 15,500 towers 4G enabled across Bangladesh.

“In 2020, we were agile, innovative and delivered a solid performance by running our operations following contingent ways of work in the face of Covid-19 pandemic and natural calamities while ensuring the safety of our employees and our supply chain partners," said Yasir Azman, CEO of GP.

“Our focus for the year ahead will be to ensure GP’s long-term sustainability. We continue to adapt to the challenges of the current Covid-19 reality. The company focuses on ensuring a better network experience, ensuring growth, innovation, modernization, and stand by society with responsible business conduct," said Jorgen C Arentz Rostrup, chair of Grameenphone Board.

Other board members and senior officials of the company were also present during the meeting, which was conducted by the company secretary SM Imdadul Haque.