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Cash Dividend Payment Amount and Rates
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Amount and Rate of Cash Dividend Stock Dividend Payment
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Additional Explanations
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Türk Telekom, the leading integrated telecommunications company, continues its operations by prioritising its strategic goals and the investments required to sustain its technological leadership while maintaining a healthy liquidity and investment balance as well as a strong balance sheet. Our Board of Directors resolved to propose at the 2023 Ordinary General Assembly that Türk Telekom pays no dividend out of 2023 earnings. The decision considers our Company's debt maturity profile, liquidity and investment requirements along with need for caution in a year of macroeconomic re-balancing.
Subject to approval in the Company's Ordinary General Assembly Meeting for the operating year 2023, it has been concluded that:
1- The Company's net profit calculated according to the independently audited consolidated financial tables prepared in accordance with the provisions of "Capital Markets Board (CMB) Communique About Financial Reporting in Capital Markets No.II-14.1" is TL 16,421,552,000 for the fiscal year of 2023.
2- Pursuant to the CMB Communique on Dividends No: II-19.1, the profit after tax amount of TL 16,421,552,000 shall be the base amount for dividend distribution,
3- The Company is not required to take any reserves for 2023 as per the Article 519 of Turkish Commercial Code because it has already reached the general legal reserve limit,
4- Accordingly, the Company is allowed to make a proposal, subject to the provisions of its Articles of Association, that the net profit amounting to TL 16,421,552,000, which is based on the independently audited consolidated financial statements, shall be recorded as extraordinary reserves.
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DIVIDEND DISTRIBUTION TABLE
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TÜRK TELEKOMÜNİKASYON A.Ş. 01.01.2023/31.12.2023 Period Dividend Payment Table (TL)
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Dividend Rate Table Explanations
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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.