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ARTICLE · 12 DECEMBER 2016

Distribution Of Advance (Interim) Dividend

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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Communiqué on Distribution of Advance Dividend, introduced by the Ministry of Customs and Trade, regulates the procedures and principles of distribution of advance dividend within the relevant fiscal year in . . .

TurkeyCorporate/Commercial Law
Gönenç Gürkaynak
Gönenç Gürkaynak
Nazlı Nil Yukaruç
Nazlı Nil Yukaruç
Selen Ermanlı Sakar
Selen Ermanlı Sakar
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Communiqué on Distribution of Advance Dividend ("Communiqué"), introduced by the Ministry of Customs and Trade, regulates the procedures and principles of distribution of advance (interim) dividend within the relevant fiscal year in (i) joint stock companies that are not subject to the capital markets legislation, (ii) limited liability companies, and (iii) limited partnerships divided into shares. As the latter is almost non-existent in daily business life, this article concentrates on joint stock companies and limited liability companies.

1. What is "dividend" and "advance dividend"?

While "dividend" refers to the monetary amount which is distributed to shareholders or other relevant persons upon a decision of the general assembly over the annual net profit or free reserves, "advance dividend" refers to the monetary amount which is calculated over the profit generated in accordance with the interim period financial statements, distributed to shareholders upon a

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