|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount and Rate of Cash Dividend Payment
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount and Rate of Cash Dividend Stock Dividend Payment
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Explanations
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Our Board of Directors made the following decision on the February 15, 2019. According to the financial statements for the accounting period 01.01.2018 and 31.12.2018, 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 PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş.; our company reached "Consolidated Net Profit" of TL 855,841,911.90 of which TL 851,756,724.49 is net profit excluding non-controlling interest share that the sum of TL 861,749,491.27 which is the aggregate sum with the donation of TL 5,907,579.37 made to tax-exempt foundations and associations during the year constitutes the first dividend basis; according to the records prepared in line with the Tax Procedure Law (TPL), the amount of funds available for distribution is TL 1,417,695,949.46 in aggregate provided that the sum of TL 1,146,044,956.92 is from after-tax net financial year profit.
The following issues were decided to be submitted to the approval of our shareholders at the Ordinary General Assembly Meeting of our Company, which is planned to be held in March to discuss the results of the 2018 activity. - It was decided that the general statutory reserve fund at a rate of 5% that must be set aside as per the Article No 519 of the Turkish Commercial Code should not be set aside for 2018 since the current general statutory reserve fund in TPL record reached the 20% limit of the capital as of 31.12.2018 - According to Capital Markets legislation and Article 18 of the Company's Articles of Association and our profit distribution policy approved at the General Assembly on 27.03.2014, considering the high interest financial environment, in order to increase the free cash flow of the Company and to optimize its financing expenses and to further strengthen the balance sheet structure, we propose not to distribute dividend this year. -The current year profit of TL 1,146,044,956.92, which is calculated according to the tax procedure law, will be allocated as extraordinary reserves. The current year net profit of TL 855,841,911.90 is transferred to retained earnings in the financial statements prepared in accordance with TMS/TFRS This statement has been 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. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DIVIDEND DISTRIBUTION TABLE
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ARÇELİK A.Ş. 01.01.2018/31.12.2018 Period Dividend Payment Table (TL)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend Rates Table
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend Payment Table Explanation
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.