In the first six months of the current year (January–June), Grameenphone, the country’s largest mobile operator, has announced a 110% interim cash dividend, or Tk 11 per share, for its shareholders despite a 31% drop in profit. The company has set August 13 as the record date for dividend eligibility.
According to Grameenphone, its net profit during this period stood at Tk 1,513 crore, which is significantly lower than the same period last year. Revenue also declined by 3%, down to Tk 7,938 crore. However, there is a silver lining in the April–June quarter, net profit rose by 2% to Tk 879 crore.
Grameenphone CEO Yasir Azman stated:
“Since the second half of last year, we have been going through a severe economic downturn that has put pressure on the entire telecom industry. However, our strategic decisions have gradually started to pay off.”
He further mentioned that the company has been able to increase profits by controlling costs through austerity measures and ensuring quarterly revenue growth.
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The cash dividend was declared as part of Grameenphone’s commitment to providing regular and reliable returns to shareholders, he added.
Grameenphone also highlighted a major achievement this year for the first time ever, Bangladeshi customers are now able to use their local mobile balance in international roaming, made possible with support from the government.
As part of its digital transformation journey, one of Grameenphone’s key assets is the ‘MyGP’ app, which has become the largest local self-service telecom app in the country. With 22.5 million monthly active users, the app has already set a new standard in the telecom industry.
