The board of Grameenphone Ltd approved a 220 per cent cash dividend for 2022, according to a press release of the largest mobile phone operator in Bangladesh.  

The announcement comes after the operator held its 26th annual general meeting today. It was organised virtually in line with the instruction of the Bangladesh Securities and Exchange Commission.

GP announced a 125 per cent interim cash dividend pay-out earlier.

In the press release, Jorgen C Arentz Rostrup, chair of Grameenphone, said, "2022 was a milestone year for Grameenphone, as we marked 25 years of providing mobile connectivity for millions of people and businesses across Bangladesh."

Despite adverse regulatory and macroeconomic challenges, the company delivered top-line growth, enabled by network investments, strength in market execution, and greater efficiency from digital transformation and modernisation efforts across the organisation, he said.

"Grameenphone continues to provide the strongest network experience in Bangladesh to meet the growing data demands of our vast customer base and was among the first operators to conduct 5G trials in major cities nationwide, paving the way for future innovation opportunities."

In 2022, GP acquired the maximum allowable 60 MHz spectrum in the auction for the 2600 MHz band and also focused on expanding the network, said Yasir Azman, chief executive officer of Grameenphone.

"Despite various challenges, we successfully maintained our network strength and drove constant innovation, introducing e-SIM for the first time in Bangladesh while also further developing our customized product portfolio."

"Overall, in 2022, we delivered strong financial results and have taken some definitive steps to improve customer experience. We remain committed to creating value in the lives of our customers, stakeholders, and shareholders and hold our place as the preferred digital connectivity partner in Bangladesh."

GP Company Secretary S M Imdadul Haque conducted the AGM.