Announcement regarding resolution of the Board of Directors for the distribution of the profit of the year 2013
Announcement regarding resolution of the Board of Directors for the distribution of the profit of the year 2013
The Board of Directors of our Bank resolved on March 06, 2014 that below matters be submitted for the approval of our shareholders during the Ordinary General Meeting of Shareholders dated April 03, 2014, that dividend distribution be initiated on April 21, 2014 and the Head Office be authorized to conduct legal applications and procedures regarding the distribution of profit.
The distribution of the profit of the year 2013 in the amount of TL 3,005,560,309.66 after the tax deduction be as follows in accordance with Article 45- of the Articles of Association of our Bank titled as “Distribution of the Profit”:
- The distribution of a cash gross dividend to our Shareholders in the amount of TL 425,000,000.00 in total equivalent to 10.11 % of the paid-in capital of the Bank (which is TL 4,200,000,000) consisting of first cash gross dividend in the amount of TL 210,000,000.00 equivalent to 5% of the Bank’s paid-in capital and second cash gross dividend in the amount of TL 215,000,000.00,
- The transfer of TL 1,103,571.88, which was exempted from Corporate Tax in accordance with sub-paragraph (e) of first paragraph of Article 5 of the Corporate Tax Law and transferred from the profit amount of the year 2008 to a special fund account, to the Extraordinary Reserves Account due to the expiration of the related term determined in the relevant legislation,
- The transfer of TL 3,341,211.30 (equivalent of 2,083,732.41 EUR) which was transferred to special fund account from the profit amount of Luxembourg Branch for the year 2007 and the transfer of TL 3,303,398.64 (equivalent of 1,787,225.00 EUR) which was transferred to special fund account from the profit amount of Luxembourg Branch for the year 2008, to the Extraordinary Reserves Account due to the expiration of the related term determined in the relevant Luxembourg legislation.
The profit distribution table for the year 2013 is attached hereto.
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