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7.2 Central Bank policy rate
7.3 Stock market
7.3.1 Equity market dynamics
Turkey’s daily cryptocurrency transaction volume stood at more than $1bn since the beginning of 2021, up from the $500-600mn seen in recent months, BloombergHT reported on January 4.
7.3.2 Dividend dynamics
Turkey’s largest telco Turk Telekom (TTKOM) will propose the distribution of Turkish lira (TRY) 601mn of additional gross cash dividends, equivalent to 25% of its 2019 profit, at its next general assembly meeting, the company said on January 25 in a stock exchange filing.
In March, Turk Telekom planned to distribute 50% of its 2019 profit but, in April, the Turkish parliament capped dividends at 25% of 2019 profits.
In July, the company distributed 25% of its 2019 profit.
The dividend cap expired at end-2020 and companies have been distributing additional dividends from their 2019 profits (see table below for major dividend payers or Bizim Menkul’s note for a full list).
Banks have been subject to first “advices” not to distribute dividends from their
31 TURKEY Country Report February 2021 www.intellinews.com
