|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount and Rate of Cash Dividend Payment
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Dividend Payment Dates
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount and Rate of Cash Dividend Stock Dividend Payment
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional Explanations
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial statements prepared by Turkish Petroleum Refineries Corporation management in compliance with the TAS/TFRS standards for the accounting period 01.01.2018 and 31.12.2018 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. are examined and approved by our Board of Directors in the meeting held on 13.02.2019 to be presented to General Assembly. As a result of the examination of financial tables and records kept as per Turkish Petroleum Refineries Corporation's VUK principles; realizing a net profit of 3,712,789,000.00 TL for the company according to the financial statements prepared in compliance with TAS/TFRS and a net profit of 3,700,951,260.62 TL for the accounting year according to the VUK records; a) Pursuant to Article 519 of the Turkish Commercial Code, 5% Legal Reserve that needs to be set aside is not reserved since as of December 31st 2018, capital reserve already exceeds 20% of company's equity. Net profit according to the financial statements prepared in compliance with TAS/TFRS in the amount of 3,712,789,000.00 TL increases to 3,752,851,607.81 TL of first assessment base for dividend when donations of 40,062,607.81 TL are added. According to the statutory records, it was realized that 3,700,951,260.62 TL of net distributable profit exists. b) In accordance with Capital Market Board Regulations, Company's Articles of Association and Dividend Distribution policy of our company, as per enclosed dividend distribution table, the following profit distribution is proposed as; 3,363,416,736.94 TL to be distributed as first dividend to shareholders 430,434,143.06 TL dividends to shareholders from distributable other reserves 378,132,992.00 - TL to be put aside as general legal reserve, c) The dividend amount of TL 3,793,850,880.00 to be fully paid in cash, d) If the above mentioned dividend distribution proposal is approved by the General Assembly, on the basis of statutory accounts, the total dividend amount of TL 3,793,850,880.00 will be distributed, of which 3,363,416,736.94 TL is from earnings of the period and the remaining 430,434,143.06 TL is from distributable other reserves. Secondary legal reserves with a value of 378,132,992.00 TL is also to be paid, of which 335,089,577.69 TL will be funded from earnings of the period and remaining 43,043,414.31 TL will be funded from distributable other reserves. e) On this basis, a cash dividend of gross=net 15.15 TL is to be paid for one nominal stock worth 1.00 TL at a rate of 1,515.00% to our legally obligated corporate taxpayer shareholders and limited corporate taxpayer shareholders earning dividends through a Turkey-based business or permanent representation office. Other shareholders are going to be paid a gross rate of 1,515.00%, a cash dividend of gross 15.15 TL, and net rate of 1,287.75%, a cash dividend of net TL 12.8775 for one nominal stock worth 1.00 TL f) The dividend distribution will be on March 28, 2019. The dividend distribution proposal will be submitted to General Assembly that will be held on March 20, 2019. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DIVIDEND DISTRIBUTION TABLE
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş. 01.01.2018/31.12.2018 Period Dividend Payment Table (TL)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend Rates Table
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend Payment Table Explanation
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(*) According to the calculation of net dividend distribution, the 51% of shares owned by corporate tax payers and not publicly traded are not subject to withholding tax, whilst the 49% of shares that are publicly traded are subject to a 15% withholding tax on the assumption that the beneficial owners are individual taxpayers. |
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.