Summary Info
Updating the dividend distribution proposal of the Board of Directors based on the dividend distribution restriction introduced by Law No. 7244
Update Notification Flag
No
Correction Notification Flag
Yes
Postponed Notification Flag
No
Reason of Correction
With the Law No. 7244 published in the Official Gazette dated 17.04.2020 and numbered 31102, capital companies were allowed to decide to distribute maximum twenty-five percent of the net profit for 2019. Therefore, the dividend distribution proposal for 2019 was updated in accordance with the law.
Decision Date
04.05.2020
Date of Related General Assembly
05.05.2020
Type of Cash Dividend Payment
Payment In Advance
Currency Unit
TRY
Stock Dividend
Will Not Be Paid
Cash Dividend Payment Amount and Rates
Share Group Info
Payment
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (%)
Withholding Rate (%)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%)
BIMAS, TREBIMM00018
Payment In Advance
0,5000000
50
15
0,4250000
42,5
Dividend Dates
Payment
Proposed
Ex-Dividend Date
Final
Ex-Dividend Date
Payment Date
Record Date
Payment In Advance
13.05.2020
15.05.2020
14.05.2020
(1) The date that the dividend will be paid and the share will start trading without dividend right (proposed).
(2) The date that the dividend will be paid and the share will start trading without dividend right (finalized).
(3) Date of entry to the accounts of the shareholders whose shares are traded on the stock exchange.
(4) Date of determination of the right holders of the type of shares traded on the stock exchange.
Amount and Rate of Cash Dividend Stock Dividend Payment
Share Group Info
Amount of Stock Dividend (TL)
Rate of Stock Dividend (%)
BIMAS, TREBIMM00018
0
0
Additional Explanations

In accordance with the law No. 7244 published in the Official Gazette dated 17/04/2020 and numbered 31102, it is decided that the capital companies are not allowed to pay dividend more than %25 of their 2019 net profit and the prior years profits and free reserves can not be subject to dividend distribution until 30/09/2020.

Due to above requirement, it has been mandatory to amend the decision taken by BOD at 04/03/2029 regarding the dividend payment proposal from 2019 profit.

The Board of Directors decided unanimously on 04.05.2020 that;

According to consolidated financial statements issued as per the provisions of the Capital Markets Board (CMB) Communiqué Serial: II-14.1, that the Company had concluded its 2019 operating year with the net after tax profit of TRY 1.224.877.000 TL

- To pay gross amount of TRY 303.600.000 cash dividend which corresponds to the 50% of the share capital and %24,7 of the 2019 net profit,

- TRY 60.720.000 shall be allocated as 1 st legal reserve

- TRY 27.324.000 shall be allocated as 2 nd legal reserve

- in calculation of the distributable profit in cash, the equation of "TRY 1.- Nominal value = 1 piece = 1 Lot" shall be used and therefore for each fully paid bearer share of TRY 1.- shall be paid a gross=net dividend of TRY 0,5 to shareholders whose dividends are not subject to withholding tax and shall be paid a net dividend of TRY 0,425 (gross TRY 0,5) for each share of TL 1 for other shareholders,

- distribution of cash dividend shall be proposed to be implemented fully at once from 13 th May 2020

- profit distribution chart shall be amended as attached,

- Amended profit distribution proposal shall be advised for shareholders approval at the Ordinary General Assembly meeting of the company will be hold on the 5 th May 2020.

Supplementary Documents
Appendix: 1
EK_Kar_Dagitim_Tablosu_2019_TR.pdf
Appendix: 2
EK_Kar_Dagitim_Tablosu_2019 _ENG.pdf
DIVIDEND DISTRIBUTION TABLE
BİM BİRLEŞİK MAĞAZALAR A.Ş. 01.01.2019/31.12.2019 Period Dividend Payment Table (TL)
1.Paid-In / Issued Capital
607.200.000
2. Total Legal Reserves (According to Legal Records)
431.098.337
Information on privileges in dividend distribution, if any, in the Articles of Association:
None
*
Based on CMB Regulations
Based on Legal Records
3. Current Period Profit
1.590.874.000
1.891.679.951
4. Taxes Payable (-)
365.997.000
416.247.983
5. Net Current Period Profit
1.224.877.000
1.475.431.968
6. Losses in Previous Years (-)
0
0
7. Primary Legal Reserve (-)
60.720.000
60.720.000
8. Net Distributable Current Period Profit
1.164.157.000
1.414.711.968
Dividend Advance Distributed (-)
0
0
Dividend Advance Less Net Distributable Current Period Profit
1.164.157.000
1.414.711.968
9. Donations Made During The Year ( + )
13.680.334
0
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated
1.177.837.334
0
11. First Dividend to Shareholders
303.600.000
0
* Cash
303.600.000
0
* Stock
0
0
12. Dividend Distributed to Owners of Privileged Shares
0
0
13. Other Dividend Distributed
0
0
* To the Employees
0
0
* To the Members of the Board of Directors
0
0
* To Non-Shareholders
0
0
14. Dividend to Owners of Redeemed Shares
0
0
15. Second Dividend to Shareholders
0
0
16. Secondary Legal Reserves
27.324.000
0
17. Statutory Reserves
0
0
18. Special Reserves
0
0
19. Extraordinary Reserves
833.233.000
1.083.787.968
20. Other Distributable Resources
0
0
Dividend Payment Rates Table
Share Group
CASH DIVIDEND AMOUNT (TL) - NET
STOCK DIVIDEND AMOUNT (TL)
TOTAL DIVIDEND AMOUNT (TL) / NET DISTRIBUTABLE CURRENT PERIOD PROFIT (%)
DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (TL)
DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (%)
- - -
258.060.000
0
22,17
0,425
42,5
TOTAL
258.060.000
0
22,17
0,425
42,5
Dividend Rate Table Explanations

Explanations about Dividend Payment Rates Table;

There is no privileged shares.