Annual Report 2016 of GrameenPhone Limited

It is a broadly described annual report of GrameenPhone Limited in the year of 2016. The collective contribution to the National Exchequer since inception until December 2016 was BDT 523.4 billion, of which BDT 58.6 billion was made in 2016 alone. Out of total BDT 523.4 billion, BDT 475.4 billion was made on account of direct tax, VAT, and duties through National Board of Revenue (NBR) and Bangladesh Telecommunication Regulatory Commission (BTRC). For 2016, Grameenphone’s revenue increased by 9.6% year-on-year to BDT 114.9 billion, resulting in the highest level of profit in the company’s 20-year history. Data revenue grew by 69.7%, supported by a 56.1% growth in the number of users and a 167.9% growth in volume. Net profit after taxes for 2016 stood at BDT 22.5 billion compared to BDT 19.7 billion in 2015. Operating expenditure grew by 8.1% against a 9.6% revenue growth, despite significant network expansion. EBITDA (before other items) grew by 13.8% with a 2 percentage point margin improvement. Received top awards both in the “Best Overall Brand” and “Best Telecom Brand” for acceptance among consumers, the awards were presented by Bangladesh Brand Forum in partnership with world’s leading brand research company Kantar Millward Brown.

For the year ended 31 December 2016, the Board of Directors of the Company has paid an Interim Cash Dividend @ 85% of the paid-up capital amounting to BDT 11,477,550,187 which was BDT 8.5 per share of BDT 10.00 each. Now, the Directors are pleased to recommend a Final Cash Dividend @ 90% of the paid-up capital amounting to BDT 12,152,700,198 which is BDT 9 per share of BDT 10 each for the year 2016 out of the divisible profits of the Company for consideration and approval of the Shareholders for distribution. Inclusive of the Interim Dividend of 85% paid already, this would make a cumulative total dividend @ 175% of the paid-up capital of the Company which represents 105% of the Profit After Tax for the year 2016 amounting to BDT 23,630,250,385.

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