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Grameenphone board approves 275% cash dividend

Grameenphone's board of directors Monday approved a 275% cash dividend for 2020 in its annual general meeting (AGM).

The 24th AGM was held through a digital platform following the instructions of the Bangladesh Securities and Exchange Commission and the risk of the virus spreading among the participants of the meeting, the company said in a statement.

Grameenphone's board of directors announced a cash dividend of 145% of the paid-up capital or Tk14.5 per share of Tk10 each.

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.

At the meeting, Grameenphone CEO Yasir Azman said: "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."

Grameenphone wants to focus on its operational efficiencies and strategies to ensure better coverage and customer-driven initiatives.

The company has acquired an additional 10.4 MHz spectrum in the Bangladesh Telecommunication Regulatory Commission (BTRC) auction, amounting to a total of 47.4 MHz spectrum.

On top of additional spectrum acquisition, Grameenphone has also celebrated 50 years of Bangladesh on March 26, 2021, by announcing all its 15,500 towers 4G enabled across Bangladesh.

Jorgen C Arentz Rostrup, chair of Grameenphone Board, said: "Our focus for the year ahead will be to ensure Grameenphone'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, modernisation, and stand by society with responsible business conduct."

Source: United News of Bangladesh