Distribution of Profits

Profit Distribution Policy

We clearly recognize it as one of our top priorities to return profits to shareholders through dividends.
The articles of association stipulate that we can allot surplus dividends, in principle at the end of a financial year. Furthermore, according to the articles of association we can pay dividends by a resolution of the board of directors only, without a resolution of the shareholders’ meeting, and without fixing a record date, based on the rules prescribed in each item of the paragraph 1 of the Article 459 of the Companies Act.

After posting operational losses for thirteen consecutive financial years, we returned to profit in the year that ended in December 2014 and eliminated the accumulated losses by allocation of new shares to a third party and compensation of losses carried forward that were implemented in March 2015. We intend to return profits at an early date while paying due consideration to the proper balance between stable profit distribution to our shareholders and preparation for future business growth.

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