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ARTICLE · 25 SEPTEMBER 2018

Turkey Updated Rules For Distributing Advance Dividends

Moroglu Arseven
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Turkey has made changes to its calculation and distribution rules for advance dividends.

TurkeyCorporate/Commercial Law
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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Turkey has made changes to its calculation and distribution rules for advance dividends. Changes apply to advanced dividends for joint-stock companies (not subject to the Capital Market Law), limited liability companies, as well as limited partnerships. Notably, advance dividends are now paid to shareholders in proportion to payments made to the company in consideration for capital share (not in proportion to each party's shares). Also, advance dividends are now distributed with priority for privileged shareholders.

The Amendment Communique on the Advance Dividend Distribution ("Amendment Communiqué") was published in Official Gazette number 30522 on 1 September 2018. The Amendment Communiqué makes changes to the Communiqué on Advance Dividend Distribution, published in the Official Gazette number 28379 on 9 August 2012.

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