TÜRK HAVA YOLLARI A.O.

Notification Regarding Dividend Payment

Publish Date:31.03.2020 18:02:28
Disclosure Type:ODA
Year:
Period:
Summary Info
The Resolution of General Assembly Regarding Profit Distribution for 2019 Fiscal Year
Update Notification Flag
Yes
Correction Notification Flag
No
Postponed Notification Flag
No
Decision Date
09.03.2020
Date of Related General Assembly
31.03.2020
Was The Issue of Dividend Payment Negotiated?
Discussed
Type of Cash Dividend Payment
Cash Dividend Will Not Be Paid
Currency Unit
TRY
Stock Dividend
Will Not Be Paid
Cash Dividend Payment Amount and Rates
Share Group Info
Payment
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (%)
Withholding Rate (%)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%)
A Grubu, THYAO, TRATHYAO91M5
0,0000000
0
0,0000000
0
C Grubu, İşlem Görmüyor, TRETHYA00012
0,0000000
0
0,0000000
0
Amount and Rate of Cash Dividend Stock Dividend Payment
Share Group Info
Amount of Stock Dividend (TL)
Rate of Stock Dividend (%)
A Grubu, THYAO, TRATHYAO91M5
0
0
C Grubu, İşlem Görmüyor, TRETHYA00012
0
0
Additional Explanations

According to the consolidated financial statements belonging to the accounting period of 01.01.2019-31.12.2019 prepared in accordance with the International Financial Reporting Standards within the framework of the provisions of the Communiqué of the CMB Serial: II, and Number: 14.1 and audited by KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş., net profit for the period is TL 4.536.000.000. On the other hand, according to the legal books (under the provisions of Turkish Tax Procedure Law, due to the differences between Turkish Accounting standards and IFRS standards) the net profit of the period is TL 1.530.828.154 and previous years' loss account has a balance of TL 17.818.113.556. The following resolution will be submitted to the approval of the General Assembly:

The profit amount according to the legal books will be transferred to previous years' loss account. As there will not be any distributable profit (according to the legal books), the net profit of TL 4.536.000.000 (according to IFRS) will be transferred to the previous years' profit account. Attached you may find the 2019 Profit Distribution Table.

Supplementary Documents
Appendix: 1
KAR PAYI DAĞITIM TABLOSU_2019.pdf
Appendix: 2
PROFIT DISTRIBUTION TABLE_2019.pdf
DIVIDEND DISTRIBUTION TABLE
TÜRK HAVA YOLLARI A.O. 01.01.2019/31.12.2019 Period Dividend Payment Table (TL)
1.Paid-In / Issued Capital
1.380.000.000
2. Total Legal Reserves (According to Legal Records)
75.738.987,22
*
Based on CMB Regulations
Based on Legal Records
3. Current Period Profit
5.056.000.000
1.530.828.154
4. Taxes Payable (-)
-520.000.000
5. Net Current Period Profit
4.536.000.000
1.530.828.154
6. Losses in Previous Years (-)
12.024.000.000
-17.818.113.556
7. Primary Legal Reserve (-)
8. Net Distributable Current Period Profit
Dividend Advance Distributed (-)
Dividend Advance Less Net Distributable Current Period Profit
9. Donations Made During The Year ( + )
583.607
583.607
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated
11. First Dividend to Shareholders
* Cash
* Stock
12. Dividend Distributed to Owners of Privileged Shares
13. Other Dividend Distributed
* To the Employees
* To the Members of the Board of Directors
* To Non-Shareholders
14. Dividend to Owners of Redeemed Shares
15. Second Dividend to Shareholders
16. Secondary Legal Reserves
17. Statutory Reserves
18. Special Reserves
19. Extraordinary Reserves
20. Other Distributable Resources
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.