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ANKARA (Turkey) : Turkish renewable energy company Naturel Yenilenebilir Enerji Ticaret said that it will skip the distribution of dividend for 2019.

The company’s shareholders adopted the decision on December 25, in a bid to strengthen the group’s financial positions in light of the ongoing coronavirus pandemic, Naturel Yenilenebilir said in a bourse filing on Monday.

Naturel Yenilenebilir’s consolidated net profit jumped to 67.8 million lira ($9.0 million/7.4 million euro) in 2019, from 8.5 million lira in 2018.

Ankara-based Naturel Yenilenebilir, established in 2009, is specialised in electricity generation from renewable energy sources, according to information published on its website. The company owns and operates 39 solar power plants with a total capacity of 44 MWp in Turkey.