Grameenphone (GP), Bangladesh’s largest telecom operator, has announced an increase in its profit for 2024, leading the company to recommend a higher cash dividend compared to the previous year.
The telecom giant reported a profit of Tk 3,630 crore in 2024, reflecting a nearly 10 percent growth from the previous year. Despite challenging economic conditions, including weak macroeconomic factors and high inflation, GP managed to maintain robust financial performance.
In mid-day trading at the Dhaka Stock Exchange (DSE) today, GP’s shares rose by 0.24 percent, reaching Tk 337.8. The company’s earnings per share (EPS) stood at Tk 26.89, an increase from Tk 24.49 in the previous year, according to a DSE disclosure.
Additionally, Grameenphone’s net operating cash flow per share saw a slight rise, reaching Tk 45.91 compared to Tk 44.88 in 2023. This performance has been driven by the telecom operator’s ability to navigate the challenges of the year and continue delivering strong results.
In line with its positive performance, the GP board has recommended a 170 percent final cash dividend, bringing the total dividend for the year to 330 percent. This includes a 160 percent interim dividend already paid earlier in the year. In comparison, the company had distributed a 125 percent dividend in 2023.
However, despite the strong overall profit, GP’s earnings in the fourth quarter of 2024 saw a decline of nearly 13 percent year-on-year, amounting to Tk 740 crore. This was attributed to the ongoing macroeconomic challenges that impacted profitability.
Despite the challenges, Grameenphone’s performance in 2024 has been a positive development for investors, who have seen growth in both share price and dividends.
, Bangladesh's largest telecom operator, has announced an increase in its profit for 2024, leading the company to recommend a higher cash dividend compared to the previous year.){kind=link}