Ford Motor Company's Extraordinary General Assembly Sets Dividend Details
Ford Automotive (FROTO) has decided to distribute a total cash dividend of 5,000,467,500 TL during its Extraordinary General Assembly meeting held on November 20, 2024.
The company's dividend is planned to be covered from various reserve sources according to the records prepared in accordance with the Tax Procedure Law. Of the total dividend amount, 3,291 million TL will be sourced from other capital reserves, 1,404 million TL from legal reserves, and the remainder from extraordinary reserves.
The company will fund a significant portion of this cash distribution from the extraordinary reserves, in compliance with the financial statements prepared in accordance with the CMB regulations. Additionally, the company will allocate 500 million TL for the second tier legal reserve to be set aside from the extraordinary reserves. All these financial transactions are carried out in accordance with the company's legal obligations and financial policies.
Details of the dividend distribution have been announced. The cash dividend payment method determined by Ford Automotive is set to be paid in advance. For Group A shareholders, the dividend will be calculated as gross 14.25 TL (net 12.825 TL) per share with a nominal value of 1 TL, while different withholding tax rates will apply for Group B and C shares. Group B shareholders will receive their dividends at a gross amount of 14.25 TL as they are full tax payers residing in Turkey. The withholding tax rate applied to Group C shares will be 5%, resulting in a net payment of 13.5375 TL for those shareholders.
The distribution of dividends will begin on November 22, 2024, and shareholders will start receiving their entitled amounts from this date. The distribution process will be conducted by the Central Securities Depository Inc. in accordance with the registration regulations. Accordingly, the date on which the dividend will be credited to the accounts of the rightful holders is set for November 26, 2024.