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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 Akiş Gayrimenkul Yatırım Ortaklığı A.Ş. (Akiş REIT) ("Company") have decided:
1. Our Company's net profit for the period in the consolidated financial statements prepared in accordance with the provisions of the Capital Markets Board Communiqué Serial: II, No: 14.1 of the Capital Markets Board is TRY 3,358,458,325.00; and the net profit for the period in the consolidated financial statements prepared in accordance with the provisions of the Tax Procedure Law ("TPL") is TRY 1,231,134,810.22.
2. In 31.12.2023 consolidated financial statements prepared in accordance with the Capital Markets Board's Serial: II, No: 14.1, there is a net profit for the year 2023 amounting to TRY 3,358,458,325.00 and retained earnings amounting to TRY 3,236,671,995.00. In accordance with the Capital Markets Board's opinions stated in the article D/2 of the Board Decision dated 07.03.2024 and numbered 14/382, which was published in the Capital Markets Board's Bulletin dated 07.03.2024 and numbered 2024/14, it has been announced that dividend distribution will be realized based on the Net Profit for the Period and Retained Earnings before the inflation adjustment to be made according to the provisions of the TPL. Pursuant to this Capital Markets Board's Decision, in the financial statements of our Company prepared in accordance with TPL before inflation adjustment, net profit for the year 2023 amount to TRY 1,231,134,810.22, accumulated losses amount to TRY 498,507,511.97, retained earnings amount to TRY 150,531,903.03 and TRY 284,661,246.77 of extraordinary reserves are set aside from retained earnings, and accordingly, in our financial statements prepared in accordance with the TPL, there is a distributable profit of TRY 1,167,820,448.05 before inflation adjustment.
3. Since the accumulated losses as of the end of 2023 in the financial statements of our Company prepared in accordance with the provisions of the TPL before the inflation adjustment should be offset against the retained earnings, the aforementioned TRY 435,193,149.80 of accumulated losses should be offset against the retained earnings and extraordinary reserves specified in the above article 2, and the remaining TRY 63,314,362.17 of accumulated losses should be offset against the net profit for the year 2023,
4. Within the framework of the article 519 of the Turkish Commercial Code and the article 33 of the Company's Articles of Association from the net profit for the Period amounting to TRY 3,358,458,325.00 in our consolidated financial statements prepared in accordance with the provisions of the Capital Markets Board Communiqué Serial: II, No: 14.1;
- As stipulated in paragraph (1) of the article 519 of the Turkish Commercial Code, it is stipulated that 5% General Legal Reserves shall be set aside from the Net Profit for the Period until 20% of the Paid-in Capital is reached, as stipulated in subparagraph (a) of the article 33 of the Company's Articles of Association. The Company's Paid-in Capital is TRY 805,000,000.00 and the General Legal Reserves before inflation adjustment in the records kept in accordance with the TPL is TRY 109,461,965.09. According to the General Legal Reserves limit of TRY 161,000,000.00, which is 20% of the Paid-in Capital, TRY 51,538,034.91 can be set aside as General Legal Reserves and the General Legal Reserves that can be set aside as 5% of the Net Profit for the Period of 2023 is TRY 167,922,916.25 and since it is higher than the General Legal Reserves limit, TRY 51,538,034.91 1st Legal Reserve is to be set aside in accordance with paragraph 1 of the article 519 of the Turkish Commercial Code and the article 33 of the Company's Articles of Association,
- To distribute the first dividend amounting to TRY 40,250,000.00, corresponding to 5% of our Company's paid-in capital of TRY 805,000,000.00 (the dividend amount corresponding to a share with a nominal value of TRY 1.00 is gross TRY 0.05, the dividend rate is gross 5.00%) to our shareholders in cash,
- To distribute the second dividend amounting to TRY 19,750,000.00 out of the remaining amount of TRY 3,270,508,164.09 (the dividend amount corresponding to a share with a nominal value of TRY 1.00 is gross TRY 0.02453416 and the dividend rate is gross 2.453416%) to our shareholders in cash,
- To set aside TRY 1,975,000.00 as General Legal Reserves based on the second dividend distributed,
- To determine the total amount of the 1st and 2nd dividends to be distributed to our shareholders as TRY 60,000,000.00 (the dividend amount corresponding to a share with a nominal value of TRY 1.00 gross TRY 0.07453416, dividend rate gross 7.453416%),
- To set aside a total of TRY 3,244,945,290.09 as General Legal Reserves,
5. To pay the dividend amounts in cash on 08.05.2024,
6. To submit this dividend distribution proposal of our Board of Directors for the approval of our General Assembly,
7. To publicly disclose our decision regarding this dividend distribution proposal and the Dividend Distribution Table for 2023 prepared within the framework of the Capital Markets Board resolutions.
Yours Respectfully,
Akiş Gayrimenkul Yatırım Ortaklığı A.Ş.
The Material Event Disclosure has been prepared in Turkish and English and in case of any contradiction between the two texts, the Turkish disclosure shall prevail.
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DIVIDEND DISTRIBUTION TABLE
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AKİŞ GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. 01.01.2023/31.12.2023 Period Dividend Payment Table (TL)
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Dividend Payment Rates Table
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