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Grameenphone announces 280% dividend in their 22nd AGM & EGM

The 22nd Annual General Meeting (AGM) of Grameenphone Ltd. was concluded successfully at the International Convention City, Bashundhara (ICCB) today.

During the AGM, Grameenphone shareholder approved 155% Final Dividend (Cash) and 125% Interim Dividend (Cash), which has already been paid. The cumulative dividend for 2018 stands at 280% of paid up capital (i.e. BDT 28 per share). As per usual practice, Grameenphone will ensure fast-track on-line divided distribution.

At the occasion, Chair of Grameenphone Board, Petter B. Furberg,and Grameenphone CEO, Michael Foley, along with other Board members and senior officials of the Company, were present. The AGM was conducted by the Company Secretary, S.M. Imdadul Haque.

During the AGM, Chair of Grameenphone thanked the shareholders for their continuous trust on the company and briefly talked about regulatory uncertainties and its impact on overall business growth of the company. The CEO mainly highlighted the operational & financial performance of the Company and successful 4G rollout.  

Speaking on the occasion the chair said, “Grameenphone expects that any competition related framework will follow Bangladesh Competition Law and established international best practices, allowing the entire industry to further develop and grow to deliver on the national ambition of Digital Bangladesh for all. SMP regulations should not be used to restrict the ability for entities to grow, innovate and invest. Referring to the recent audit demand of BDT 12,580 crore leveled at the company, the chair added that “Grameenphone considers the demand as unfounded and without any legal basis and has a responsibility to its shareholders to defend the Company against all unacceptable claims. We have requested BTRC for prompt withdrawal of the demand and for discussions towards an amicable resolution.

The other activities of the AGM were adoption of the Directors’ Report and Auditors’ Report together with the Audited Financials 2018, and the election/re-election of the Directors and appointment of statutory Auditors and Corporate Governance Compliance Auditors

This was the 10th AGM for the Company since it became a listed company in 2009.

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