CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. ("CarrefourSA") Dividend Distribution Policy is determined within the framework of the provisions of the Turkish Commercial Code, Capital Markets Legislation and other applicable legislation, as well as the dividend distribution article of our Articles of Association; in line with CarrefourSA's mid- and long-term strategies, investment and financial plans, taking into account the state of the national economy and the sector, and considering the balance between the expectations of shareholders and the needs of CarrefourSA.  

Although the principle of determining the amount of dividend to be distributed in line with the decision of the General Assembly has been adopted, distributing dividends to shareholders in the form of cash and/or bonus shares at the rate of 50% of the distributable profit is accepted, in principle, for dividend distribution. CarrefourSA does not distribute advance dividends. 

In principle, dividends shall be distributed equally to all existing shares, regardless of their issue and acquisition dates, as soon as possible, and they shall be distributed to shareholders on the date determined by the General Assembly following the approval of the General Assembly within the specified legal periods. 

The General Assembly may transfer some or all of the net profit to the extraordinary reserves. In the event that CarrefourSA Board of Directors proposes to the General Assembly not to distribute the profit, the shareholders shall be notified at the General Meeting as to the reasons for this proposal and the manner of using the undistributed profit. Likewise, this information is also disclosed to the public in the annual report and on the official website. 

The dividend policy is submitted to the approval of shareholders at the General Meeting. This policy is reviewed annually by the Board of Directors in the event of any unfavorable developments in the national and global economic conditions, and according to the status of the projects and funds on the Company's agenda. Amendments to this policy are also submitted to the approval of shareholders at the first General Meeting following the amendment and disclosed to the public on the official website.