12 Months Financial Report - Turkish Airlines

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200927 SHAREHOLDERS’ EQUITY (cont’d)Distribution of Dividends (Cont’d)Furthermore, based on the afore-mentioned decree, companies that are required to prepare consolidatedfinancial statements should calculate their net distributable profits, to the extent that they can berecovered from equity in their statutory records, by considering the net profit for the period in theconsolidated financial statements which are prepared and disclosed in accordance with the CommuniquéSerial: XI, No: 29;Within the frame of Communiqué Series: XI, No: 29, amount disclosed in notes to financialstatements based on the Board decision dated 9 January 2009; following the deduction ofcompanies’ retained earnings, total of remaining profit for the period and other total resourcesthat may apply to profit distribution;Within the frame of 6 th bulletin of Communiqué Series: IV No: 27, application of related period aboutprofit distribution time;a) If all dividends are distributed in cash, dividends made to continue the adoption of distributing until theend of following fifth month of the fiscal period.b) If dividends are distributed as share, the Entity should apply for Capital Markets Board until the end offollowing fifth month of the fiscal period and finish profit distribution until the end of following sixthmonth of the fiscal period as the purpose of exported shares are recorded by Capital Markets Board.c) In the case of combination of the options "a" and "b", it was decided that operations described earliershould be performed separately but within the time that referred to in subparagraphThe items of shareholders’ equity of the Company in the statutory records as of 31 December 2009 are asfollowsPaid-in capital 875.000.000Share premium 181.185Legal reserves 39.052.952Extraordinary reserves (*) 7.806.889Other profit reserves 9Special funds 53.064.572Retained earnings (*) 303.035.058Net profit for the period (*) 332.792.278Total shareholders’ equity 1.610.932.943* According to legitimate regulations, total amount, subject to dividend distribution is TL643.634.22549