Robi tops losers’ chart for low dividend

Robi shares shed the most among those of listed companies yesterday as investors reacted sharply to the second largest mobile phone operator announcing a 5 per cent cash dividend for 2021.

At Dhaka Stock Exchange (DSE) Robi shares fell 3.59 per cent to Tk 34.9, the lowest point to be reached since February 1, from Tk 36.2 the previous day.

Bangladesh Shipping Corporation came second. Its share declined 2 per cent.

This is the first full-year dividend declaration by Robi Axiata for shareholders.

The company provided dividend for the first time, so investors should be happy but they expected better than what it declared at the end, said stock investor Abdul Mannan.

Hopefully its profit will grow faster and then it will be able to give higher dividends. But, most of the stock investors invest for a short time and they were in the mood to sell shares, he added.

The mobile phone operator said its earnings per share rose 3.2 per cent to Tk 0.34 in 2021 from Tk 0.33 the previous year.

Its profit after tax stood at Tk 180 crore at the end of 2021, up 16 per cent from Tk 155 crore in 2020 when the number of shares was calculated on a weighted average basis as Robi got listed at the end of 2020.

With a majority owned by Malaysia-based Axiata Group Berhad, Robi said it expanded both its mobile and data subscriber base in 2021.

The mobile operator recorded Tk 8,142 crore in revenue in 2021, up 7.6 per cent the previous year. Its data revenue grew faster than voice revenue during the year, said Robi in a statement.

Robi's earnings before interest, taxes, depreciation and amortization (EBITDA) rose 2.7 per cent to Tk 3,308 crore in 2021.

"We are happy to see our growth strategy consistently working in the market. Robi made the highest revenue growth for the third consecutive year in 2021," said Robi Acting Chief Executive Officer and Chief Financial Officer M Riyaaz Rasheed.