Did Turkcell pay out any dividends in 2009?
Until 2003, Turkcell did not make any dividend payments due to our previous accumulated loss under previous Capital Market Board (“CMB”) accounting standards. The CMB has adopted new accounting standards in 2003, which are generally in compliance with International Financial Reporting Standards (“IFRS”). Turkcell adopted these accounting standards as of and for the year ended December 31, 2003 for CMB reporting purposes. Turkcell reported accumulated profit according to the new accounting standards. Accordingly, Turkcell paid out dividends in 2004, 2005, 2006, 2007, 2008 and 2009. Turkcell distributed cash dividends in an amount of approximately TRY859,259,101 (approximately $580,423,602) in 2010.
