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Cash Dividend Payment Amount and Rates
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Dividend Dates
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(1) The date that the dividend will be paid and the share will start trading without dividend right (proposed).
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(2) The date that the dividend will be paid and the share will start trading without dividend right (finalized).
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(3) Date of entry to the accounts of the shareholders whose shares are traded on the stock exchange.
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(4) Date of determination of the right holders of the type of shares traded on the stock exchange.
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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Board of Directors of Vestel Beyaz Eşya Sanayi ve Ticaret Anonim Şirketi made the following resolutions:
Vestel Beyaz Eşya Sanayi ve Ticaret AŞ recorded TL 1,518,592,000 of net profit in its financial statements prepared within the framework of the Communiqué on the Principles of Financial Reporting in Capital Markets numbered II-14.1 and in compliance with the Turkish Accounting Standards/Turkish Financial Reporting Standards and audited by KPMG Bağımsız Denetim ve Serbest Muhasebecilik Mali Müşavirlik AŞ, and TL 1,470,123,914 of net profit in its statutory financial statements prepared in accordance with the Turkish Commercial Code No. 6102 and Tax Procedure Law No. 213.
After setting aside, as per the Paragraph 1 of the Article 519 of the Turkish Commercial Code, the required amount of TL 73,506,196 for the first legal reserves from the net profit of TL 1,470,123,914 recorded in the Company's statutory financial statements prepared in accordance with the Turkish Commercial Code and Tax Procedure Law, the net distributable profit is calculated as TL 1,396,617,718.
After deducting TL 73,506,196, set aside as the first legal reserve, from the net profit of TL 1,518,592,000 recorded in the CMB financial statements of the Company, the net distributable profit is calculated as TL 1,445,085,804. Following the addition of TL 4,787,860 of donations made in the year to the net distributable profit, the first dividend base is calculated as TL 1,449,873,664.
In accordance with the Company's Articles of Association and Dividend Distribution Policy, the first dividend is determined as TL 362,468,416, which is calculated as 25% of the distributable profit based on the CMB financials. After deducting the first dividend of TL 362,468,416 and TL 61,830,886 of first legal reserve from the net distributable profit of TL 1,396,617,718 based on the Turkish Commercial Code and Tax Procedure Law, the second dividend is determined as TL 335,840,443. Accordingly, the Company's Board of Directors resolved to propose the payment of TL 698,308,859 of cash dividends, including the first and second dividends, to its shareholders which corresponds to a gross cash dividend of TL 0.4364 and a net cash dividend of TL 0.3928 per share, on 30 June 2022 and the addition of the remaining amount of TL 636,477,973, after deducting the TL 698,308,859 of gross distributable profit to be paid to the shareholders and the TL 135,337,082 of first legal reserve from the TL 1,470,123,914 of net profit reported in the statutory tax financials to the extraordinary reserves and to submit these proposals to the approval of shareholders at the Annual General Meeting for the year 2021.
This statement was translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
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DIVIDEND DISTRIBUTION TABLE
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VESTEL BEYAZ EŞYA SANAYİ VE TİCARET A.Ş. 01.01.2021/31.12.2021 Period Dividend Payment Table (TL)
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Dividend Payment Rates Table
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