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Amount and Rate of Cash Dividend Payment
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Cash Dividend Payment Dates
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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Our Company Board of Directors made the following decision on the 20th Feb. 2017.
According to the financial statements for the accounting period 01.01.2016 and 31.12.2016, prepared by our Company within the framework of the Communiqué of the Capital Markets Board (CMB), numbered Series: II-14.1, and in compliance with the International Financial Reporting Standards and audited by Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. (a member firm of Ernst & Young Global Limited); a "(Consolidated) Net Profit" of TL 1,304,149,954.23 has been provided of which TL 1,299,911,814.79 is net profit belonging to equity holders of the parent. Our profit distribution policy approved in the General Assembly on 27.03.2014, prepared on basis of the market expectation, long-term corporate strategy, investment and finance policies as well as profitability and cash position, our proposal for profit distribution has been explained below. The payment of dividend will commence on April 3, 2017 in accordance with the decision to be adopted by the general assembly.
In accordance with Capital Markets Law and Capital Markets regulations, it was established that a distributable profit of TL 1,299,911,814.79 has been obtained, the sum of TL 1,315,130,317.54, which includes the addition of TL15,218,502.75 consisting of the donations made to the tax-exempt foundations and associations, was the first dividend base and in official records it was seen that there was a total distributable profit of TL 755,995,367.64 , including TL 386,923,341.53 as net profit after tax.
The 5 % portion of legal reserves which has to be allocated according to Turkish Commercial Code article 519 will not be allocated for 2016 since legal reserves amount as of 31.12.2016 according to Tax Procedure Law reached 20% of the capital.
Following decisions have been made: From the consolidated profit calculated in accordance with CMB regulations,
TL 425,000,000.00 first dividend payable to shareholders
and total of,
TL 425,000,000.00 Gross Dividend to be distributed to the shareholders;
TL 39,121,358.98 10% 2nd group reserves and
on the basis of our legal records;
The distributable cash dividend TL 425,000,000.00 shall be funded ;
TL 354,819,984.14 from current year profits
TL 70,180,015.86 from extraordinary reserves.
2nd group reserves TL 39,121,358.98 shall be funded ;
TL 32,103,357.39 from current year profits,
TL 7,018,001.59 from extraordinary reserves.
After the deduction of dividend to shareholders and allocated second legal reserves from the current year profit, of the remaining TL 835,790,455.81 will be allocated as extraordinary reserves in accordance with the Capital Markets regulations.
To our shareholders which are full taxpayer institutions or limited taxpayer institutions obtaining dividend through a workplace or permanent representatives in Turkey; dividend to be paid at the rate of 62.9 % and TL 0.62895 gross= net cash for shares at the nominal value of TL 1.00 ;
And gross cash dividend of TL 0.62895 at the rate of 62.9% and net cash dividend of TL 0.53461 at the rate of 53.5% for shares with a nominal value of TL 1.00 to be paid to our other shareholders,
and to begin the payment of dividend on April 3, 2017 is submitted to approval of General Assembly which will be held on 23rd March 2017 Thursday to approve 2016 accounting period.
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DIVIDEND DISTRIBUTION TABLE
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ARÇELİK A.Ş. 01.01.2016/31.12.2016 Period Dividend Payment Table (TL)
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Dividend Rates Table
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Dividend Payment Table Explanation
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(*) There is no privileged share group in the profit.
(**) The dividend shall be distributed from
354,819,984.14 TL
current year earnings and 70,180,015.86 TL extraordinary reserves.The withholding tax shall be charged to such non-exempted portion of individual taxpayers. For the purpose of calculating the total net dividend to be distributed, a calculation free of withholding tax shall be done for such portion that corresponds to the share of corporate shareholders which are known to be exempt from the withholding tax while the calculation for the entire unknown portion is based on the assumption that withholding tax shall be charged.
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