GP approves 130pc cash dividend

The 23rd Annual General Meeting (AGM) of Grameenphone Ltd was held on Tuesday.
In compliance with the directives set by the Bangladesh Securities and Exchange Commission and considering the health and safety of all the attending shareholders, staff, and others during the ongoing COVID-19 situation, Grameenphone carried this year's AGM virtually by using digital platform, said a statement.
The Board of Directors of Grameenphone Ltd announced a final dividend for the year 2019 in cash at the rate of 40% of the paid-up capital, or BDT 4.0 per share of BDT 10 each. With this cash dividend pay-out, the total cash dividend stands at 130% of the paid-up capital, including the previous 90% interim cash dividend pay-out, amounting to 50.86% of Profit After Tax for the year 2019.
Petter B. Furberg, Chair of Grameenphone Board; Yasir Azman, Grameenphone CEO along with other Board members and senior officials of the company, were present virtually in the AGM conducted by the Company Secretary, S.M. Imdadul Haque.
For Grameenphone, 2019 was a challenging year considering disputed audit claims by BTRC. Grameenphone, however, looks forward to solving this dispute before the Hon'ble Courts or amicably through arbitration.
Regarding the regulatory challenge, Petter B. Furberg said: "We are constantly working with the authorities, to find an amicable and transparent resolution to protect the rights of customers, partners, and shareholders."
Despite these challenges in a heightened competitive market, Grameenphone has successfully adopted to deliver the intended strategy by agile organizational capability, upskilling, and innovation. The steady growth has been driven by customer-centric and personalized modernization and prudent operational efficiencies to impact shareholder returns positively.