TURKEY: Coca-Cola Içecek proposes dividend
Coca-Cola Içecek (CCI) is to propose to its General Assembly the distribution of a TL16m (US$10m) cash dividend, to be paid in May 2009, and the remainder of the net distributable profit to be added to the extraordinary reserves.
In a statement, the soft drinks company said that, subject to the approval of the General Assembly Meeting, a gross dividend of TL0.062900 will be paid per 100 shares, representing a TL1 nominal value.
Turkey-based full and limited corporate tax payers, who receive dividends through an established business or a representative office in Turkey, will receive a net amount of TL0.0629000 per 100 shares, and other shareholders will receive a net amount of TL0,053465.
Coca-Cola Icecek said in January that volumes rose by 11% for 2008 to 533m unit cases, each containing 5.7 litres.
In absolute volume terms, Turkey was the third strongest growing soft drinks market in the world last year, generating 1.6bn litres of new business, according to data from Euromonitor International. O...
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