Turkish mobile operator Turkcell to distribute 4 billion lira dividends, shareholder says

TeliaSonera and the other shareholders in Turkcell Holding have agreed to propose to the General Assembly meeting of Turkcell that the largest mobile company in Turkey will distribute dividends, which is calculated at around 4 billion Turkish Liras.

The general assembly of Turkcell will be held on March 26 and the proposal is expected to be approved, as Turkcell Holding holds 51 percent of Turkcell, TeliaSonera said in a written statement on March 25, putting an end to the lingering dispute between shareholders over the issue, as it has not distributed any dividends since April 2010.

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.

TeliaSonera said its expected share of the dividends will be nearly 1.5 billion liras.

The amount corresponds to around 42.5 percent of the net profit accumulated by Turkcell between 2010 and 2014.