HÜRRİYET GAZETECİLİK VE MATBAACILIK A.Ş.
DIVIDEND POLICY
March 04, 2014
Our Company takes profit sharing decisions and shares profits in accordance with Capital Market Statute, Capital Market Law (SPKn), Capital Market Board (SPK) Regulations and Decisions, Tax Laws, other relevant legal statute provisions and our Articles of Association and General Meeting Decisions.
According to this;
1- In principle, by taking the financial statements prepared in accordance with Capital Market Statutes, SPKn, SPK Regulations and Decision into account, minimum 50% of “distributable net profit of the period” calculated according to SPKn, SPK Regulations and Decisions are distributed,
2- Our Company’s financial statements, financial structure and budget are taken into account in case an amount between 50% and 100% of “distributable net profit of the period” is to be distributed.
3- Profit sharing suggestion are announced to the public by taking the legal term into account and according to Capital Market Statute, SPKn and SPK Regulations and Decisions.
4- In case the “distributable net profit of the period” calculated according to the legal records kept as required by Turkish Commercial code and Tax Laws is;
a. lower than the amount calculated according to article 1, the “distributable net profit of the period” calculated according to legal records kept in the scope of hereby article are taken into account and all of it is distributed,
b. higher than the amount calculated according to article 1, article 2 is followed.
5- In case a distributable net profit of the period is not generated based on legal records kept in the scope of Turkish Commercial Code and Tax Laws, profit distribution shall not be made even if a “distributable net profit of the period” based on the financial statements prepared in accordance with Capital Market Statute, SPKn, SPK Regulations and Decisions and calculated according to Capital Market Statute, SPKn, SPK Regulations and Decisions.
6- Profit share may not be made when the calculated “distributable net profit of the period” falls below 5% of issued capital.
7- In accordance with Capital Market Statute, SPKn, SPK Regulations and Decisions and based on the principles stated in our Articles of Association, the top limit for aids and donations to be made by our Company during any financial period shall be determined by General Meeting. No donation exceeding the limit determined by General Meeting can be made and the donations made shall be added to “distributable net profit of the period” basis.
8- Profit share starts in 30 days after the general meeting in which distribution decision has been made the least or, in any case, after the end of the financial period.
9- Our Company may pay the profit share in cash and/or in cash as “free of charge share” or in installments in accordance with Capital Market Statute, SPKn, SPK Regulations and Decisions and based on General Meeting Decision.
10- Our Company may distribute profits to persons with no share in accordance with the decision of General Meeting. In this case, Capital Market Statute, SPKn, SPK Regulations and Decisions and the provisions of Articles of Association are followed.
11- Our Company takes profit share advance payment decisions and make profit share advance payments in accordance with Capital Market Statute, SPKn, SPK Regulations and Decisions, Tax Laws, other relevant legal statute provisions and our Articles of Association and General Meeting Decisions.
12- Investments which require a significant amount of outflow of funds in order to increase the value of our Company, matters of great importance which affect our financial structure, significant uncertainties and negativities on the economy, markets or other areas outside the control of our Company are taken into account when making a decision on profit sharing.
