Procedures And Principles Of Dividend Distribution Limitation Are Determined

Within the scope of Provisional 13th Article of Turkish Commercial Code numbered as 6102, added with 17/04/2020 dated and 7244 numbered Law; it has been decided that "until 30/09/2020, capital companies can only decide to distribute 25% of 2019 period net profit, previous years'profits and free capital reserves cannot be included within the decision, and company board cannot receive authorization of advance dividend payment from general assembly".

The communiqué published in the 31130 numbered Official Gazette on 17.5.2020, provides explanations regarding the procedures and principles of executing the provisional 13th article of the Turkish Commercial Code.

Within the scope of the communiqué, certain decisions are as below;