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Article: Distribution Of Dividend In Joint Stock Companies And Transfer Of Dividends Abroad.
- Article from:
- Mondaq Business Briefing
- Article date:
- May 30, 2008
- Author:
CopyrightCOPYRIGHT 2008 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When considering the main rationale behind establishing a joint stock company, the most important is the financial benefits of being a shareholder of a joint stock company which is the opportunity to participate in the profit sharing. Under Turkish law, any shareholder is entitled to obtain dividends, which is deemed as a basic shareholders' right.
Distribution of Dividends in Joint Stock Companies
Joint Stock Companies
Net profit is determined pertinent to the balance sheet and Article 469 of the Turkish Commercial Code directs that unless the legal and facultative reserves and other sums, which must be set aside in accordance with ...