Annual Report 2014 of GrameenPhone Limited

It is a broadly described annual report of GrameenPhone Limited in the year of 2014. The collective contribution to the National Exchequer from inception up to December 2014 was BDT 413.7 billion (BDT 41,368 Crore), of which BDT 58.9 billion (BDT 5,892 Crore) was made in 2014 alone. Out of total BDT 413.7 billion (BDT 41,368 Crore), BDT 380.4 billion (BDT 38,040 Crore) was made on account of direct tax, VAT and duties through National Board of Revenue (NBR) and Bangladesh Telecommunication Regulatory Commission (BTRC), BDT 33.8 billion (BDT 3,384 Crore) on account of renewal of 2G license and spectrum in 2011-13, purchase of additional spectrum in 2008 and BDT 17.2 billion (BDT 1,725 Crore) on account of 3G license and spectrum fee for 10MHz in 2013 and BDT 33.3 billion (BDT 3,329 Crore) as indirect payments on account of local and foreign staff income taxes and withholding taxes on operating expenditure payments. Profit after tax for 2014 increased by 34.7% at BDT 19.8 billion (2013: BDT 14.7 billion) driven by higher profit before tax and lower income tax expense. In 2014, Grameenphone (GP) recorded revenue growth of 6.3% over 2013 to BDT 102.7 billion (2013: BDT 96.6 billion), with net profits of BDT 19.8 billion (2013: BDT 14.7 billion). Revenue from mobile communication grew by 5.9% in 2014 to BDT 98.5 billion (2013: BDT 92.9 billion) with a positive contribution from data & VAS, voice and interconnection. Data & VAS revenues grew by BDT 3.3 billion for the year to BDT 11.2 billion (2013: BDT 7.9 billion). At the end of 2014, data & VAS revenue accounted for 11.4% (2013: 8.5%) of mobile communication revenue. GP invested BDT 15.2 billion (BDT 1,516 Crore) in 2014. These investments bring GP’s accumulated investment in Bangladesh to around BDT 258.5 billion (BDT 25,852 Crore) since inception.

For the year ended December 31, 2014, the Board of Directors of the Company has paid an Interim Cash Dividend @ 95% of the paid-up capital amounting to BDT 12,827,850,209 which was BDT 9.5 per share of BDT 10.00 each. Now, the Directors are pleased to recommend a Final Cash Dividend @ 65% of the paid-up capital amounting to BDT 8,776,950,143 which is BDT 6.5 per share of BDT 10.00 each for the year 2014 out of the divisible profits of the Company for consideration and approval of the Shareholders for distribution. Inclusive of the Interim Dividend of 95% paid already, this would make a cumulative total dividend @ 160% of the paid-up capital amounting to BDT 21,604,800,352 which was BDT 16 per share for the year 2014.

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