TeliaSonera and the other shareholders in Turkcell Holding have agreed on a dividend distribution proposal to the General Assembly Meeting of Turkcell
- 2015-03-25 06:30 UTC
TeliaSonera and the other shareholders in Turkcell Holding have agreed to propose to the General Assembly Meeting of Turkcell that the company distribute dividends of TRY 3,925 million in total. The General Assembly Meeting of Turkcell will be held on March 26, 2015, and the proposal is expected to be approved, as Turkcell Holding holds 51 percent of Turkcell.
TeliaSonera’s direct and indirect holding in Turkcell is 38 percent in total. TeliaSonera owns 14 percent directly and the remainder through its minority interest in Turkcell Holding. Provided that the General Assembly Meeting approves the proposal, TeliaSonera’s expected share of the above-mentioned dividends will be TRY 1,492 million. Based on a TRY/SEK 3.30 exchange rate, this corresponds to approximately SEK 4.9 billion pre tax and estimated to SEK 4.5 billion post tax.
Turkcell has not adopted any General Assembly resolution since April 2010, when a resolution was passed on the distribution of dividends for the fiscal year 2009. The distribution proposal to the General Assembly Meeting on March 26, 2015, represents dividends for the fiscal years 2010 to 2014 and corresponds to around 42.5 percent of the net profit accumulated during the period.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at
7.30 a.m. CET on March 25, 2015.