Turkey: Dividend Distribution Limitation Period is Extended

With the Presidential Decree published on 18 September 2020, the President extended the period for the limitations on capital companies' dividend distributions by three months, until 30 December 2020.

Exceptions to Limitations on Dividend Distribution in Turkey

Provisional Article 13 introducing certain limitations on capital companies’ dividend distributions was added to the Turkish Commercial Code through Law No. 7244 on Reducing the Effects of the Novel Coronavirus (COVID-19) Pandemic on Economic and Social Life and the Amendment of Certain Laws.

Omnibus Law: Limitations on Dividend Distribution

The Omnibus Law, through amendments to the Turkish Commercial Code, introduces certain limitations on capital companies’ dividend distributions.

Omnibus Bill: Amendments to Turkish Commercial Code and Labour Law

In its efforts to combat the COVID-19 pandemic and to implement required precautions, the Turkish government has prepared the Draft Law on Amendments to Certain Laws (the "Omnibus Bill")