PhosAgro EGM Approves Dividends and New Charter
Moscow - PhosAgro ("the Company"), one of the world's leading vertically-integrated phosphate-based fertilizer producers, announces that an Extraordinary General Meeting of Shareholders on 29 July 2016 approved dividends and a new edition of the Company's Charter. The record date for shareholders eligible to receive dividends was set as 10 August 2016.
The total dividend payout of RUB 8,158.5 million is equal to RUB 63 per ordinary share (RUB 21 per Global Depositary Receipt), and comes from undistributed profit as of 31 March 2016.
The new edition of the Charter has been updated to adhere to current legislation. Changes were also introduced to bring PhosAgro's Charter in line with the recommendations of the Central Bank of Russia's Corporate Governance Codex.
The updates concern, among other things, a change in OJSC PhosAgro's name and legal form, in accordance with current legislation, to PJSC (Public Joint Stock Company) PhosAgro. In July of this year the Company marked five years since its IPO. PhosAgro's shares currently trade on the Moscow Exchange, and Global Depositary Receipts on its shares, which are included in the MSCI Russia index, trade on the London Stock Exchange.
PhosAgro CEO Andrey Guryev said: "Thanks to our continued focus on raising our competitiveness, we have been able to maintain a solid position as a market leader for fertilisers both domestically and internationally, and to generate stable cash flows. This means we can continue to fulfil our promises to investors, and to maintain our investment and social programmes."
Notes to Editors
PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%).
The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia. It is Russia's only producer of nepheline concentrate.
PhosAgro's main products include phosphate rock, 33 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world's inhabited continents. The Company's priority markets outside of Russia and the CIS are Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and global depositary receipts ("GDRs") for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.
