Provided that no adverse conditions exist regarding domestic and/or global economic circumstances and that the Bank's capital adequacy ratio remains at the targeted level, Akbank's dividend distribution policy is to distribute to its shareholders in cash and/or stock dividend up to 40% of the Bank's distributable profit.
The dividend distribution procedure is completed in accordance with the General Assembly resolutions within the legal periods stipulated by the law.
The Bank does not have a practice of distributing advance dividends.
Appropriation of Profits
In accordance with the 82nd article of the Articles of Association of Akbank, the dividend to be distributed from 2016 net profit of TL 4.528.712.188,29 will be as follows;
- Gross TL 200,000,000, equal to 5% of the paid-in capital of the Bank as of 31st December 2016 which is TL 4.000.000.000 will be allocated as primary cash gross dividend; and gross TL 700.000.000 will be allocated as secondary cash gross dividend. Total gross dividend of TL 900.000.000 equal to 22,5% of the paid in capital, will be distributed to shareholders,
- Cash dividend distribution to start from 30th of March, 2017,
- In accordance with the first paragraph clause (e) and (f) of article 5 of the Corporate Tax Law, TL 129.884.859,73 which is exempt from corporate tax and the first paragraph clause (g) of article 10 of the Corporate Tax Law, TL 10,000,000 which is deductible from corporate tax base to be allocated to a “Special Fund Account”; and after allocating TL 70.000.000 to Legal Reserves, the remaining profit will be retained under Extraordinary Reserves.