Tuğçelik suspends dividend payments for 2023

In a disclosure made to the Public Disclosure Platform (KAP) by Tuğçelik Alüminyum, the company stated that, according to its 2023 financial statements prepared in accordance with Turkish Financial Reporting Standards (TFRS) and audited by independent auditors, the net profit after deducting taxes and other legal obligations was TL 309,825,081. Based on data prepared according to the provisions of the Tax Procedure Law, the net profit for the period was determined to be TL 94,627,826. It was unanimously decided that the remaining amount after deducting legal reserves would not be distributed but would be added to equity and submitted for approval at the ordinary general assembly meeting.

The official statement released by Tuğçelik is as follows:

“According to our 2023 financial statements prepared in accordance with TFRS and audited by independent auditors, our net profit after deducting taxes and other legal obligations is TL 309,825,081. Based on data prepared according to the provisions of the Tax Procedure Law, our net profit for the period is TL 94,627,826. It was unanimously decided that the remaining amount after deducting legal reserves will not be distributed but will be added to equity and submitted for approval at the ordinary general assembly meeting.”