It is concluded that, TL 2,633,932,576.99 is determined as distributable dividend base after deduction of 5% legal reserve stated under article 519 of Turkish Commercial Code amounting to TL 45,780,423.01 from the net profit achieved in the consolidated financial statements for the accounting period of 1 January - 31 December 2013 prepared by Koç Holding A.Ş. management which are in compliance with TFRS under Capital Markets Board regulations and audited by Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi (A member firm of Ernst & Young Global Limited) and TL 2,635,398,830.74 is determined as first category dividend base after addition of donations made to foundations and associations amounting TL 1,466,253.75 to distributable dividend base.
On the other hand, TL 869,828,037.10 is determined as distributable profit after deduction of 5% legal reserve stated under article 519 of Turkish Commercial Code amounting to TL 45,780,423.01 from the net profit achieved in the statutory financial statements.
We are submitting following items to the approval of the Shareholders General Assembly:
- By considering Capital Market Board Regulations and Company Articles of Association the profit distribution is determined as:
TL 131,769,941.54 As first category dividend to shareholders,
TL 8,500,000.00 To Koç Holding Foundation for Pensions and Assistance as per article 19/c of our Articles of Association,
TL 75,214,130.23 To holders of usufruct certificates as per article 19/d of our Articles of Association,
TL 274,734,515.88 As second category dividend to shareholders,
- The sum of first category dividend and second category dividend amounting TL 406,504,457.42 is proposed to be paid in cash;
- Dividend payments of TL 406,504,457.42 and TL 75,214,130.23 payments allocated to usufruct shareholders together with a total amount of TL 481,718,587.65 will be paid in cash and sourced by TL 98,896,884.18 from current year tax exempt earnings and TL 382,821,703.47 from current year other income. TL 8,500,000.00 allocated to the Koç Holding Foundation for Pensions and Assistance to be paid in cash and will be sourced by current year taxable earnings.
- It is further resolved the dividend will be distributed in cash to the resident entity taxpayer shareholders and non-resident taxpayer shareholders obtaining dividend income through an office or a permanent representative in Turkey as (gross =net) TL 0.1603 for shares with a nominal value of TL 1 (16.03%) and, to the rest of our shareholders as gross TL 0.1603 (TL 0.1411914 net) for shares with a nominal value of TL 1 (gross: 16.03%; net: 14.11914%).
- The remaining which is left after payments of dividend to shareholders and allocations for usufruct certificate holders and Koç Holding Foundation for Pensions and Assistance, amounting to TL 379,609,449.45, is transferred to extraordinary reserves.
- Profit distribution date is determined as 9 April 2014.