Robi declares 10pc cash dividend

The board of directors of Robi Axiata declared a 10 per cent cash dividend for 2023, based on profit growth.

This is the highest dividend declared by the country’s second-largest telecom operator since its listing with the stock market, as the company reported a record profit in 2023 of Tk 3.21 billion, riding on robust revenue growth. 

The telecom operator registered nearly 16 per cent growth in revenue to Tk 99.42 billion in 2023, according to its audited financial statements published on Thursday.

The 10 per cent cash dividend represents 165 per cent of profit after tax in 2023.

“This stellar performance reflects the highest level of trust Robi’s subscribers have for our strong network,” said Rajeev Sethi, managing director and CEO of Robi Axiata.

Robi added 4.30 million new subscribers in 2023, the highest among mobile phone operators, reaching 50.87 million in total, which was 31 per cent of the country’s total mobile phone subscribers.

The telecom operator started its journey in 1997 under the brand name Aktel. It then changed its name to Axiata (Bangladesh) in 2009 and took the present name Robi Axiata in 2010.

Robi joined the stock market in December 2020, with the largest-ever initial public offering (IPO) in Bangladesh’s capital market history.

Asian telecom giant, Axiata Group Berhad, based in Malaysia, holds 61.82 per cent shares of Robi Axiata while Bharti Airtel holds 28.18 per cent and the remaining 10 per cent general public.

The company’s share price has been languishing at the floor price of Tk 30 since August 4 last year.

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