Grameenphone Grants Generous Interim Dividend Amid Mixed Earnings
Based on its performance over the first half of the year, the board of directors of Grameenphone Ltd. (GP), a publicly listed telecom operator, has declared a 110 percent interim cash dividend for shareholders. This means investors will receive BDT 11 per share as interim return on their holdings.
Alongside this announcement, the company also released its financial report for January–June 2025. While net profit for the April–June quarter has increased slightly compared to the same period last year, the cumulative six-month earnings have declined.
The dividend declaration and financial disclosures were published on Thursday, July 17, by the Dhaka Stock Exchange (DSE), based on information provided by Grameenphone authorities.
To determine eligible investors for the interim dividend, the record date has been set for August 13. The DSE has clarified that, due to the dividend declaration, there will be no circuit breaker on GP's share price movements on Thursday—allowing it to fluctuate without restriction.
For the April–June quarter, the company posted an earnings per share (EPS) of BDT 6.51, up from BDT 6.38 in the same period last year—a 13-paisa increase. However, EPS for the January–June half-year stands at BDT 11.21, a notable decrease from BDT 16.29 during the same period last year, reflecting a drop of BDT 5.08 per share.
In addition to declining profits, the company’s net asset value (NAV) per share also decreased. As of the end of June, NAV stood at BDT 42.15, down from BDT 53.18 in June last year.
Q2 2025: Resilience in a Challenging Climate
Grameenphone generated BDT 4,103 crore in revenue in the second quarter of 2025—down 2.8 percent from the same quarter last year—reflecting the broader macroeconomic headwinds affecting the telecom sector. The company’s subscriber base reached 86.3 million, of which 58.3 percent (around 50.3 million) are internet users.
Grameenphone CEO Yasir Azman said, “Since the second half of last year, we’ve been navigating significant economic challenges that have affected not just telecom but businesses across sectors. Despite this difficult environment, we’ve achieved our results through strategic initiatives. Improved revenue over the previous quarter and disciplined cost management have enabled a 2 percent year-over-year increase in net profit after tax for the quarter. We remain committed to delivering long-term value for shareholders and maintaining consistent and reliable dividends. For the first half of 2025, we are announcing an interim dividend of BDT 11 per share.”
Highlighting key milestones, Azman added, “For the first time, Bangladeshi Hajj pilgrims were able to use international roaming through local mobile balances. This is a landmark achievement made possible through the cooperation of the telecom sector and the government. Digital growth is a key marker of our transformation journey. In this regard, MyGP has set a benchmark as the leading local self-service telecom app in Bangladesh, with 22.5 million monthly users. We are moving towards a future that will be fundamentally AI-driven—there is no alternative. Accordingly, we are upskilling our teams, rethinking our operational models, and developing AI-powered solutions to boost capability and ensure sustainable growth.”
Grameenphone CFO Otto Magne Risbak noted, “The economy is showing signs of stabilization—inflation is easing, and the foreign exchange rate is becoming more stable. However, global trade volatility continues to create uncertainty for us, especially as the U.S. is a key market for Bangladesh’s strong textile sector. To maintain margins in such conditions, we focused on disciplined expenditure and capital management. Our cost of goods sold (COGS) and operational expenses have both declined, resulting in a 2 percent reduction in total costs compared to the same period last year. Revenue declined 2.8 percent year-over-year, but quarter-over-quarter, we achieved 7 percent growth—driven by increased internet usage and heightened mobile activity around Eid.”
He added, “Our EBITDA for the quarter reached BDT 2,462 crore—an 11.9 percent increase from the previous quarter. I am pleased that improved top-line growth and disciplined cost management have led to a 2 percent year-on-year rise in net profit. If current economic trends persist, I am optimistic we will see even stronger growth in the second half of 2025.”
