Telia to Vote in Favor of $175 Million Turkcell Payout

Date : 09/11/2019 @ 9:53AM
Source : Dow Jones News
Stock : Turkcell lletism Hizmetleri AS (TKC)
Quote : 5.93  0.03 (0.51%) @ 12:59AM
Turkcell lletism Hizmetl... share price Chart

Telia to Vote in Favor of $175 Million Turkcell Payout

Turkcell lletism Hizmetl... (NYSE:TKC)
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By Dominic Chopping

 

STOCKHOLM--Telia Co. AB (TELIA.SK) said Wednesday that it has agreed, along with the other shareholders in Turkcell Holding, to vote in favor of Turkcell Iletisim Hizmetleri AS's (TCELL.IS) proposal to distribute dividends of 1.01 billion Turkish lira ($175.1 million) on Oct. 31.

Provided the proposal is approved, Telia's expected share of the dividends will be TRY243 million, corresponding to approximately 410 million Swedish kronor ($42.3 million) pretax and SEK389 million after tax.

Telia is the largest shareholder in Turkcell Iletisim Hizmetleri with a 24% indirect shareholding through its minority interest in Turkcell Holding.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

September 11, 2019 04:38 ET (08:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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