Some facts about bonus issue announcements in Turkey between 2010 and 2019
| Panel A: Descriptive statistics for the amount of capital increase via bonus issue (in thousands TRY) | |||||
|---|---|---|---|---|---|
| N | Total | Mean | Std. Dev | Min | Max |
| 343 | 28,558,443 | 83,995 | 136,078 | 660 | 1,000,000 |
| N | Total | Mean | Std. Dev | Min | Max |
|---|---|---|---|---|---|
| 343 | 28,558,443 | 83,995 | 136,078 | 660 | 1,000,000 |
| Panel B: Timing of the bonus issue announcements | |||
|---|---|---|---|
| Year of the announcement | # Of issues | Month of the announcement | # Of issues |
| 2010 | 37 | January | 8 |
| 2011 | 35 | February | 61 |
| 2012 | 43 | March | 98 |
| 2013 | 45 | April | 65 |
| 2014 | 30 | May | 39 |
| 2015 | 28 | June | 12 |
| 2016 | 34 | July | 13 |
| 2017 | 29 | August | 10 |
| 2018 | 40 | September | 7 |
| 2019 | 22 | October | 12 |
| November | 10 | ||
| Average | 34 | December | 8 |
| Year of the announcement | # Of issues | Month of the announcement | # Of issues |
|---|---|---|---|
| 2010 | 37 | January | 8 |
| 2011 | 35 | February | 61 |
| 2012 | 43 | March | 98 |
| 2013 | 45 | April | 65 |
| 2014 | 30 | May | 39 |
| 2015 | 28 | June | 12 |
| 2016 | 34 | July | 13 |
| 2017 | 29 | August | 10 |
| 2018 | 40 | September | 7 |
| 2019 | 22 | October | 12 |
| November | 10 | ||
| Average | 34 | December | 8 |
| Panel C: Number of bonus issue announcements according to sub-groups | |||
|---|---|---|---|
| Last Year's income groups | # Of issues | Internal resources groups | # Of issues |
| With cash (DIV_C) | 73 | Inflation adjustments on equity (IR_IAE) | 42 |
| Non-cash (DIV_NC) | 76 | Retained earnings (IR_RE) | 46 |
| Income reserves (IR_IR) | 52 | ||
| Capital reserves (IR_CR) | 54 | ||
| Total | 149 | Total | 194 |
| Last Year's income groups | # Of issues | Internal resources groups | # Of issues |
|---|---|---|---|
| With cash (DIV_C) | 73 | Inflation adjustments on equity (IR_IAE) | 42 |
| Non-cash (DIV_NC) | 76 | Retained earnings (IR_RE) | 46 |
| Income reserves (IR_IR) | 52 | ||
| Capital reserves (IR_CR) | 54 | ||
| Total | 149 | Total | 194 |
| Panel D: Descriptive statistics for issue size groups | |||||
|---|---|---|---|---|---|
| Issue size groups | N | Mean for issue size | Std. Dev | Min | Max |
| Q1 | 84 | 0.0675 | 0.0244 | 0.0102 | 0.1062 |
| Q2 | 84 | 0.1646 | 0.0361 | 0.1085 | 0.2464 |
| Q3 | 89 | 0.4171 | 0.1275 | 0.25 | 0.741 |
| Q4 | 87 | 4.0723 | 9.9067 | 0.75 | 79 |
| Issue size groups | Mean for issue size | Std. Dev | Min | Max | |
|---|---|---|---|---|---|
| Q1 | 84 | 0.0675 | 0.0244 | 0.0102 | 0.1062 |
| Q2 | 84 | 0.1646 | 0.0361 | 0.1085 | 0.2464 |
| Q3 | 89 | 0.4171 | 0.1275 | 0.25 | 0.741 |
| Q4 | 87 | 4.0723 | 9.9067 | 0.75 | 79 |
| Panel E: Number of bonus issue announcements according to sectoral belonging | |||
|---|---|---|---|
| Non-financial industries | # Of issues | Financial industries | # Of issues |
| Chemicals and fertilizers, pharmaceuticals and plastics | 37 | Diversified REITs | 43 |
| Wholesale, retail and distributions | 21 | Investment holding companies | 31 |
| Iron and steel | 21 | Banks | 21 |
| Cement and concrete manufacturing | 16 | Factoring and leasing | 20 |
| Construction and engineering | 15 | Insurance | 13 |
| Auto, truck and motorcycle parts | 13 | Venture capital | 10 |
| Computer, software and hardware (IT) | 10 | Investment trust | 9 |
| Others | 54 | Brokerage services | 9 |
| Total | 187 | Total | 156 |
| Non-financial industries | # Of issues | Financial industries | # Of issues |
|---|---|---|---|
| Chemicals and fertilizers, pharmaceuticals and plastics | 37 | Diversified REITs | 43 |
| Wholesale, retail and distributions | 21 | Investment holding companies | 31 |
| Iron and steel | 21 | Banks | 21 |
| Cement and concrete manufacturing | 16 | Factoring and leasing | 20 |
| Construction and engineering | 15 | Insurance | 13 |
| Auto, truck and motorcycle parts | 13 | Venture capital | 10 |
| Computer, software and hardware (IT) | 10 | Investment trust | 9 |
| Others | 54 | Brokerage services | 9 |
| Total | 187 | Total | 156 |
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