Dividend Policy

Our Company makes dividend in the frame of the provisions of the Turkish Commercial Code, Capital Market Regulation, Tax Regulation and other related written regulations and the article of our articles of incorporation relating to the dividend.

The dividend policy and the annual dividend suggestion of the Board of Directors containing the matters which are stipulated in the Corporate Management Principles of SPK (Capital Markets Board) take part in the activity report and it is presented to the approval of the shareholders in the General Board meeting and, in addition to this, announced in the official website of our company together with the detailed information concerning the profit distribute history and capital increases.

Our Company adopted its dividend policy by means of observing the operational performance, financial situation of the company and the market developments, in the frame of the provisions which take part in the Capital Market Regulations and our articles of incorporation. Minimum 70% of the net distributable terminal profit for each account year shall be distributed as dividend on the condition of observing the cash flow requirements of the company, as subject to the suggestion of the Board of Directors and the approval of the General Board and the amendments to be made therein and also the related written regulations which are currently applicable in Turkey starting from the proceeds of the financial year of 2012.

This policy shall be revised every year by the Board of Directors according to any inconvenience in the national and global economical conditions, the situation of the projects on the agenda and the financial resources of the company. In the frame of the dividend policy, the dividend is distributed equally to all of the shares present as of the account year and no privilege is applied for this purpose.