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Park Elektrik Rises to a Record After Dividend Payment Plan

Park Elektrik Uretim Madencilik Sanayi & Ticaret AS (PRKME), a Turkish miner, jumped to the highest level since its listing in 1997 after the company announced it plans to pay a dividend.

Park Elektrik added 7.5 percent to 5.76 liras at the close in Istanbul, the biggest increase since Nov. 11.

Park Elektrik will propose a gross dividend of 100 million liras ($56.8 million), or 0.67 lira per share, from 2011 profit to an annual meeting of shareholders on May 31, it said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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