NEWSLETTER-2019-metin

52 NEWSLETTER 2019 non-publicly traded companies. Unlike non-public companies, public companies are allowed to determine their own dividend policies in a flexible manner. Unless there is no specific rate for primary reserves under the articles of association of a publicly traded company, it is not mandatory to distribute dividends. However, non-publicly traded companies shall distribute dividends under the conditions provided for in Article 7 of the Communiqué.