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29 January, 2020 00:00 00 AM
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GP recommends 40pc cash dividend

Staff Reporter, Dhaka
GP recommends 40pc cash dividend

The board of directors of Grameenphone (GP) yesterday recommended 40 per cent final cash dividend for the year 2019 which is one of the lowest cash divided that the country’s largest telecom operator has churned out in its 10 years since its initial public offering (IPO) in the stock exchange. The total dividend for the year 2019 will be 130 per cent as the country’s largest market cap listed company has already paid 90 per cent interim cash dividend for its shareholders for the year concluded on December 31, 2019.

The announced dividend represents 50.86 percent of profit after tax for the year 2019. The company has also reported earnings per share (EPS) of Tk 13.  Last year, GP had recommended 155 per cent final cash dividend which represents 108 per cent of profit after tax while the operator recommended 100 per cent final cash dividend (total 205 percent cash dividend) for that year which represents 101 per cent of profit after tax in 2018.

Last year, GP had recommended 155 per cent final cash dividend (total 280 per cent cash dividend) which represents 108 per cent of profit after tax while in 2018, the operator recommended 100 per cent final cash dividend ( total 205 per cent cash dividend for that year) which represents 101 per cent of profit after tax. Industry insider said the ongoing tussle between GP and the Bangladesh Telecommuni-cation Regulatory Commission (BTRC) about unpaid due of an audit claim might force the operator to keep cash in hand.

For 2019, the company reported a total of Tk 14,370crore revenues, registering 8.1 per cent annual growth. During the year, data revenue grew by 17 per cent while voice revenue grew by 8.5 per cent. In the fourth quarter, the company reported Tk 3,620 crore revenues, a growth of 4.2 per cent from the same period last year, said a press statement.  Grameenphone acquired 0.07 crore new subscribers in the fourth quarter, reporting a total of 7.65 crore subscribers at the end of 2019, a 5.1 per cent growth year over year. A total of 4.06 crore, or 53.1 per cent of the total subscribers of GP are using internet services.

“The year 2019 was a particularly tough year for Grameenphone on the regulatory front, facing many challenges that impacted our day to day operations. However, through excellent execution in the market and maintaining our network leadership position, we have delivered a solid business performance,” said Michael Patrick Foley, CEO of Grameenphone Ltd.

“In the fourth quarter we were able to complete our ambition of rolling out 10,000 4G sites throughout our network, and with an added focus on 4G SIM conversion, we ended the year with 1.19 crore 4G users. We witnessed healthy growth in data revenue and data usage.” said Michael Patrick Foley, CEO of Grameenphone Ltd.  “We want to reiterate our commitment towards meaningful consultations between our industry and our government that can enrich our service propositions and facilitate the current growth momentum of the country,” he added.

Net profit after taxes (NPAT) for the fourth quarter was Tk 920 crore, with 25.4 per cent margin. Earnings per share (EPS) for the period stood at Tk 6.81. “Grameenphone Ltd reported a solid business performance with strong margins in the fourth quarter of 2019,” said Jens Becker, CFO of Grameenphone Ltd.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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