Turkey's BIST dividend stocks post strong gains as lira faces steep depreciation

Over the past three months, a handful of Turkish dividend‑paying shares posted double‑digit price gains, topping the BIST 100. Katılım Tasarruf Finansman rose 122.2%, Empa Elektronik 121.2%, ARD Bilişim Teknolojileri 76.5% and other firms in technology, energy and steel also posted strong performance.

At the same time, macro‑economic data show the Turkish lira sharply losing value – the dollar fell 7.9% and the euro 9.5% over six months, with year‑on‑year real depreciation of about 11%. Real returns on the BIST 100 reached 14.34% year‑to‑date, contrasting with a previous year of real losses. Inflation remains high, real interest rates are negative, and foreign capital inflows have stalled, raising concerns about further currency pressure and financial stability.