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Summary Info
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Board of Directors' dividend distribution proposal for 2017
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Update Notification Flag
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No
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Correction Notification Flag
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No
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Postponed Notification Flag
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No
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Board Decision Date
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02.04.2018
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Date of Related General Assembly
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15.05.2018
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Type of Cash Dividend Payment
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Cash Dividend Will Not Be Paid
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Currency Unit
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TRY
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Type of Stock Dividend Payment
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Will Not Be Paid
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Amount and Rate of Cash Dividend Payment
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Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL)
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Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (%)
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Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL)
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Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%)
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MGROS, TREMGTI00012
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0
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0
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0
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0
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Amount of Stock Dividend (TL)
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Rate of Stock Dividend (%)
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MGROS, TREMGTI00012
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0
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0
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At the Migros Board of Directors meeting dated April 02, 2018,
Board of Directors' dividend distribution proposal, to be submitted to the General Assembly was discussed. Accordingly;
Within the Communiqué of Capital Markets Board (CMB) No. II–19.1 and in accordance with our articles of association and dividend distribution policies that were disclosed to public by our company, the Company recorded TL 509,036,463.45 (equity holders of parent: TL 512,706,101.23) net profit in 2017 consolidated financial statements prepared in accordance with the Turkish Commercial Code and CMB legislation. It was unanimously resolved to submit no dividend distribution to the approval of General Assembly for 2017 fiscal year and to retain net profit for the extraordinary legal reserves. Since the legal limit has been reached, the allocation of primary reserve is not required.
The dividend distribution has not been proposed in order to provide a robust balance sheet structure and to manage the cash flow more efficiently for the upcoming years. The Company plans to use this profit to finance the working capital and capital expenditure requirements of the Company in the future.
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Appendix: 1
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Migros Ticaret A.S. Kar Payi Dagitim Tablosu 2017.pdf
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Appendix: 2
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Migros Ticaret A.S. Profit Distribution Table 2017.pdf
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DIVIDEND DISTRIBUTION TABLE
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MİGROS TİCARET A.Ş. 01.01.2017/31.12.2017 Period Dividend Payment Table (TL)
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1.Paid-In / Issued Capital
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178.030.000
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2. Total Legal Reserves (According to Legal Records)
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455.318.616,38
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Information on privileges in dividend distribution, if any, in the Articles of Association:
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-
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*
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Based on CMB Regulations
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Based on Legal Records
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3. Current Period Profit
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606.366.113,46
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-459.178.495,85
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4. Taxes Payable (-)
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93.660.012,23
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83.598.278,82
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5. Net Current Period Profit
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512.706.101,23
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-542.776.774,67
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6. Losses in Previous Years (-)
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-27.516.078
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0
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7. Primary Legal Reserve (-)
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0
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0
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8. NET DISTRIBUTABLE CURRENT PERIOD PROFIT
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485.190.023,19
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0
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Dividend Advance Distributed (-)
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0
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0
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Dividend Advance Less Net Distributable Current Period Profit
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0
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0
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9. Donations Made during the Year ( + )
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348.231,2
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0
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10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated
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485.538.254,39
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0
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11. First Dividend to Shareholders
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0
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0
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* Cash
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0
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0
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* Stock
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0
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0
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12. Dividend Distributed to Owners of Privileged Shares
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0
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0
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13. Other Dividend Distributed
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0
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0
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* To the Employees
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0
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0
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* To the Members of the Board of Directors,
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0
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0
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* To None Shareholders
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0
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0
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14. Dividend to Owners of Redeemed Shares
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0
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0
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15. Second Dividend to Shareholders
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0
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0
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16. Secondary Legal Reserves
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0
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0
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17. Statutory Reserves
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0
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0
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18. Special Reserves
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0
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0
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19. EXTRAORDINARY RESERVES
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485.190.023,19
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0
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20. Other Distributable Resources
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0
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0
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CASH DIVIDEND AMOUNT (TL) - NET
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STOCK DIVIDEND AMOUNT (TL)
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TOTAL DIVIDEND AMOUNT (TL) / NET DISTRIBUTABLE CURRENT PERIOD PROFIT (%)
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DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (TL)
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DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (%)
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- - -
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0
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0
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0
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0
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0
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TOTAL
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0
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0
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0
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0
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0
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