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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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Financial statements prepared by Turkish Petroleum Refineries Corporation management in compliance with the TAS/TFRS standards for the accounting period 01.01.2022 and 31.12.2022 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. are examined and approved by our Board of Directors 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 TL 41,044,621,000 for the company according to the financial statements prepared in compliance with TAS/TFRS and a net profit of TL 34,891,189,014.29 and a previous year loss of TL 3.523.207.956.78 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 2022, 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 TL 41,044,621,000 increases to TL 41,332,384,392.21 of first assessment base for dividend when donations of TL 287,763,392.21 are added. According to statutory records, having deducted the accumulated loss of TL 3,523,207,956.78 recorded in previous years from current year net profit, TL 31,367,981,057.51 of net distributable profit was realized. b) In accordance with Capital Market Board Regulations, 18th Article of Company's Articles of Association and Dividend Distribution policy of our company which was approved by shareholders in the General Assembly meeting dated 31 March 2014, by taking into consideration Company's long term strategies, investment and financing policies, profitability and cash position, and taking into consideration of ongoing uncertainties both in global and local markets and access to funding, the following profit distribution is proposed as; TL 12,500,000,000.00 to be distributed as first dividend to shareholders. TL 1,248,623,717.43 to be put aside as general legal reserve, c) The dividend amount of TL 12,500,000,000.00 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, by deducting accumulated loss of TL 3,523,207,956.78 from current year profit, the total dividend amount of TL12,500,000,000.00 will be distributed. General legal reserve with a value of TL1,248,623,717.43 will be funded from current earnings of the period. e) After distribution of dividend, TL27,295,997,282.57 in the financial statements, which was prepared in compliance with TAS/TFRS to be transferred to retained earnings, according to statutory accounts, TL17,619,357,340.08 will be accounted as extraordinary reserve f) On this basis, a cash dividend of gross=net TL45.4121860 is to be paid for one nominal stock worth TL 1.00 at a rate of 4,541.22% 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 4,541.22%, a cash dividend of gross TL 45.4121860 , and net rate of 4,087.1% a cash dividend of net TL 40.870974 for one nominal stock worth TL1.00 g) To set the dividend distribution date as March 10, 2023. To be submitted for the approval of our shareholders at the Ordinary General Assembly Meeting of our company to be held, with the developments in the financial markets and changes in our company's liquidity position, it has been decided that, should favourable conditions arise in the second half of the year, the possibility of distributing additional dividends with an extraordinary general assembly will be separately assessed . This statement has been translated intro English for informational purposes, in case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish versiyon shall prevail. |
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DIVIDEND DISTRIBUTION TABLE
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TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş. 01.01.2022/31.12.2022 Period Dividend Payment Table (TL)
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Dividend Payment Rates Table
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Dividend Rate Table Explanations
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(*) With this calculation of dividend distribution, 54.11% shares are owned by corporate tax payers and are not publicly traded, are not subjet to with holding tax, whilst 0.21% shares of individual shares that are not publicly traded and 45.7% shares that are publicly traded are subject to a 10% with holding 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.