Turkey’s industrial giant Tüpraş announced its balance sheet for the fourth quarter of 2024. Despite market expectations of 5.1 billion lira, the company reported a quarterly net profit of 3.98 billion lira. Tüpraş’ net profit for 2024 totaled 18.31 billion lira, showing a 76% decrease compared to 2023. The company concluded 2023 with a net profit of 53.6 billion lira. Today, TUPRS shares are trading with a slight loss at 129.80 lira, down by 0.23%. NO MORE PURCHASES OF RUSSIAN OIL Tüpraş announced the halt of purchasing Russian oil due to U.S. sanctions. Levent Bayar, Director of Investor Relations at Tüpraş, stated, “Due to the new sanctions, we have ceased buying Ural oil. We will receive our last shipments within the month of February.” On January 10, the U.S. announced new sanctions targeting the Russian energy sector. Tüpraş was one of the largest purchasers of Russian oil, importing 178 thousand barrels per day in 2023 and increasing this amount to 225 thousand barrels per day in 2024. HOW MUCH DIVIDEND WILL TÜPRAŞ PAY? In 2025, Tüpraş will pay a dividend of 12.92 lira per share to investors. This dividend will be paid in two installments. Investors will receive the first dividend payment on March 28, 2025, amounting to 6.61 lira per share. The second installment will be paid on September 30, 2025, at a rate of 6.30 lira per share.