Dividends

The Company allocates profits and pays dividends in accordance with its articles of association, subject to the requirements of Turkish commercial, capital market, tax, and other applicable laws, regulations, and administrative provisions.

It is the company’s policy to distribute at least 50% of its distributable profit to shareholders in the form of cash dividends and/or bonus shares each year. Implementation of this policy however is subject to the need for investments and other funding to support the company’s long-term growth and may therefore be modified or suspended in the event of extraordinary developments in economic conditions. The Board of Directors passes a dividend recommendation resolution for each fiscal year and submits it to the General Assembly of Shareholders for their approval. The general assembly sets the date for the start of dividend distribution but that date must be before the end of the year in which it is set.

	Gross Dividend Per Share	Net Dividend Per Share	Total Dividends	Dividend Rate*
2023	0,5772 TL	0,5194 TL	150.002.212 TL	57,72%
2022	0,762 TL	0,6858 TL	18.002.250 TL	76,20%
2021	0,635 TL	0,5715 TL	15.001.875 TL	63,50%
2020	0,635 TL	0,5397 TL	15.001.875 TL	63,50%
2019	0,635 TL	0,5397 TL	15.001.875 TL	63,50%
2018	0,847 TL	0,7199 TL	20.010.375 TL	84,70%
2017	0,931 TL	0,7915 TL	22.000.000 TL	93,12%
2016	0,720 TL	0,6120 TL	17.010.000 TL	90%
2015	1,270 TL	1,0795 TL	30.003.750 TL	44%
2014	1,780 TL	1,5130 TL	14.017.500 TL	50%
2013	2,540 TL	2,1590 TL	20.002.500 TL	40%
2012	1,530 TL	1,3010 TL	12.048.750 TL	50%
2011	1,270 TL	1,0800 TL	10.001.250 TL	39%
2010	1,120 TL	0,9520 TL	8.820.000 TL	41%
2009	0,850 TL	0,7230 TL	6.693.750 TL	40%
2008	0,580 TL	0,4930 TL	4.567.500 TL	33%
2007	0,500 TL	0,4250 TL	3.937.500 TL	54%
2006	0,480 TL	0,4080 TL	3.780.000 TL	54%

* Dividend Ratio= Total Dividend / Distributable Profit