PROFIT DISTRIBUTION POLICY
Article 30 of the Company's Articles of Association, titled "Dividend Distribution";
{ The company complies with the regulations in the Turkish Commercial Code and capital market legislation regarding profit distribution.
The amounts that are required to be paid and set aside by the Company in accordance with the general accounting principles such as the Company's general expenses and miscellaneous depreciation fees, and the provisions set aside for the compulsory taxes and financial liabilities to be paid by the Company's legal entity are deducted from the revenues determined at the end of the accounting year and are included in the annual balance sheet. The remaining amount after deducting the previous year's losses, if any, from the net profit seen is distributed in the following order and principles.
First Order Legal Reserve:
a) 5% of the remainder is set aside as primary legal reserve until 20% of the paid-in capital is found in accordance with paragraph 1 of Article 519 of the Turkish Commercial Code.
First Dividend:
b) First dividend is set aside from the remainder at the rate and amount determined by the CMB.
Second Dividend:
c) After deducting the points in subparagraphs (a) and (b) from the net profit, the remaining portion is distributed partially or completely as second dividends to the General Assembly, to be left on the balance sheet as profit at the end of the period, to be added to legal or discretionary reserves or as extraordinary reserves. authorized to separate.
Second Order Legal Reserve:
d) In accordance with sub-paragraph (c) of the second paragraph of Article 519 of the Turkish Commercial Code, second legal reserves are set aside.
e) Unless the reserves required to be set aside by law and the first dividend determined for the shareholders in this Articles of Association are reserved, it cannot be decided to allocate other reserves, to transfer profits to the next year, and to distribute dividends from the profits to the members of the Board of Directors, civil servants, employees and workers. No dividends can be distributed to these persons unless they are distributed.
f) It may distribute dividend advances to shareholders within the framework of the regulations in Article 20 of the Capital Markets Law. }
is called.
Our company, taking into account any negativity in national and global economic conditions, the status of projects and funds on the agenda, the distributable net period calculated at the end of the year in accordance with the dividend distribution proposal determined by the Board of Directors in accordance with the CMB communiqués and regulations and submitted to the approval of the General Assembly. by giving cash or bonus shares up to [40]% of its profit, or by giving a certain amount of cash and a certain amount of bonus shares.
