The FINANCIAL — Telia Company 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 1,900 million in total.
The General Assembly Meeting of Turkcell will be held on March 29, 2018, and the proposal is expected to be approved, as Turkcell Holding holds 51 percent of Turkcell. Three directors nominated by Turkcell Holding are also proposed to be elected as new members of the board of directors, among these Ingrid Stenmark, Senior Vice President and Head of CEO Office; Strategy & Combined Assurance at Telia Company.
Telia Company is the largest shareholder in Turkcell with 24.0 percent indirect shareholding through its minority interest in Turkcell Holding. Provided that the General Assembly Meeting approves the proposal, Telia Company’s expected share of the above-mentioned dividends will be TRY 456 million. Based on a TRY/SEK 2.06 exchange rate, this corresponds to approximately SEK 939 million pre-tax and estimated to SEK 892 million post tax, according to Telia.
Turkcell Holding’s shareholders propose that the dividends will be distributed in three equal installment payments during 2018.
The General Assembly is also expected to elect three new members to the board, among them Ingrid Stenmark, Senior Vice President and Head of CEO Office; Strategy & Combined Assurance at Telia Company.