Page 98 - TURKRptOct19

9.2.7 TMT corporate news
● Turkcell
The general assembly of Turkcell (TCELL) has approved the distribution of TRY1.01bn worth of gross dividends from the telco’s 2018 profit in a single instalment rather than the previously announced four instalments.
Accordingly, the company will distribute TRY0.46 gross or TRY0.39 net dividends per share on October 31.
The gross dividend yield stands at around 3.5%.
Turkcell previously said it would distribute dividends in four instalments on October 22 and December 17 this year, and January 14 and March 17 next year.
Sweden’s Telia Company is the largest shareholder in Turkcell with a 24% indirect stake through its minority interest in Turkcell Holding, which holds a 51% controlling stake in what is Turkey’s largest mobile operator, issued a written statement.
Local conglomerate Cukurova Holding has a 13.8% stake in Turkcell while Russia's Alfa Group, owned by Russian tycoon Mikhail Fridman, has 13.2%.
Telia expects to receive TRY243mn worth of dividends from Turkcell.
In March, shareholders of Turkcell Holding agreed to distribute a total of
98 TURKEY Country Report October 2019 www.intellinews.com