Grameenphone Ltd (GP) will return virtually all of its first-half earnings to shareholders after declaring a Tk10.50-per-share interim cash dividend, maintaining a 99.8 per cent payout despite reporting lower profit amid a challenging macroeconomic environment.
The country’s largest mobile operator said in a Dhaka Stock Exchange (DSE) filing on Wednesday that the interim cash dividend, equivalent to 105 per cent of its paid-up capital, represents almost 100 per cent of its audited profit after tax for the six months ended 30 June 2026. Shareholders on record as of 12 August will be eligible for the dividend.
The company reported earnings per share of Tk10.52 for the January-June period, down 6.2 per cent from Tk11.21 in the corresponding period last year.
Quarterly earnings also weakened, with earnings per share falling 13.7 per cent to Tk5.62 in the April-June quarter from Tk6.51 a year earlier.
Net operating cash flow per share fell 17.3 per cent to Tk22.27 in the first half, compared with Tk26.94 a year earlier, mainly because of higher payments to suppliers.
Net asset value per share edged down to Tk41.51 at the end of June from Tk42.15 a year earlier.
In a separate press statement, GP said revenue fell 3 per cent to Tk3,980 crore in the April-June quarter, compared with the same period last year, mainly because of a challenging macroeconomic environment and a higher comparative base created by the timing of two Eid festivals in the corresponding quarter of 2025.
Revenue, however, rose 6 per cent from the previous quarter, while disciplined cost management helped the company maintain earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of about 58 per cent despite continued investment in its network and information technology infrastructure.
GP CEO Yasir Azman said the operator completed the nationwide deployment of 700 MHz spectrum across more than 1,000 sites during the quarter and was already seeing encouraging early benefits.
He said the network demonstrated its resilience during the FIFA World Cup by handling the highest data traffic in the company’s history during the Argentina-Austria match, processing more than double its normal traffic while maintaining a stable customer experience.
GP’s subscriber base stood at 86.3 million at the end of June, while internet users reached 52.7 million, taking data penetration to 61.1 per cent of its total subscribers.
Azman said the company would continue investing in network modernisation, digital platforms, artificial intelligence, automation and ecosystem partnerships while driving operational efficiencies to strengthen long-term competitiveness.
GP Chief Financial Officer Otto Magne Risbakk said subscriber growth resumed during the quarter and revenue improved sequentially, although year-on-year performance remained affected by the stronger comparative base and persistent inflation.
He said the company’s healthy cash generation, debt-free balance sheet and disciplined capital allocation enabled it to continue investing in the business while maintaining its long-standing commitment to delivering attractive returns to shareholders.
GP shares inched down 0.43 per cent to Tk257.50 apiece on the DSE on Wednesday.
