TeliaSonera and the other shareholders in Turkcell Holding have agreed on a dividend distribution proposal to the General Assembly Meeting of Turkcell
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.
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.
TeliaSonera provides network access and telecommunication services in the Nordic and Baltic countries, the emerging markets of Eurasia, including Russia and Turkey, and in Spain. TeliaSonera helps people and companies communicate in an easy, efficient and environmentally friendly way. Our ambition is to be number one or two in all our markets, providing the best customer experience, high quality networks and cost efficient operations. TeliaSonera is also the leading European wholesale provider who owns and operates one of the world's most extensive fiber backbones. In 2014, net sales amounted to SEK 101.1 billion, EBITDA to SEK 35.2 billion and earnings per share to SEK 3.35. The TeliaSonera share is listed on Nasdaq Stockholm and Nasdaq Helsinki. Read more at www.teliasonera.com.