PhosAgro AGM Approves Dividends

OJSC PhosAgro (PHOR) 
PhosAgro AGM Approves Dividends 
 
24-May-2019 / 16:07 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer / publisher is solely responsible for the content of this 
announcement. 
 
For Immediate Release   24 May 2019 
 
PhosAgro AGM Approves Dividends 
 
 Moscow - The Annual General Meeting of shareholders (AGM) of PhosAgro ("the 
Company") (Moscow Exchange, LSE: PHOR) has approved a final dividend payment 
for 2018 of RUB 6.6 billion, which represents RUB 51 per ordinary share (RUB 
17 per GDR) from undistributed net profit for 2018. The dividend record date 
                                         was set as 10 June 2019. 
 
 The AGM also approved the annual report for 2018, which presented growth in 
  fertilizer and feed phosphate production by 7.6% year-on-year to 9 million 
    tonnes, and phosphate rock production that exceeded 10 million tonnes, a 
                                         record for the industry. 
 
 Solid operating performance enabled the Company to achieve strong financial 
     results, including a record level of free cash flow amounting to RUB 21 
   billion, an industry-leading EBITDA margin of 32%, and a 97% year-on-year 
                                         increase in adjusted net profit. 
 
     PhosAgro CEO Andrey Guryev said: "Major investments under the Company's 
    Strategy to 2020, which was completed ahead of schedule last year due to 
      high professionalism and well-coordinated teamwork, have enabled us to 
   achieve consistent growth in operating and financial performance over the 
                                         course of the year. 
 
  "This solid foundation has enabled us to make stable dividend payments, as 
      well as to finance new investments and social programmes, guaranteeing 
   significant capacity for further growth that is built into PhosAgro's new 
                                         Strategy to 2025." 
 
    The Strategy to 2025, approved in March 2019, aims to further strengthen 
 PhosAgro's position as a producer of pure phosphate-based fertilizers while 
      also benefiting from one of the lowest cash costs of production in the 
         industry. It also preserves the Company's commitment to sustainable 
       development principles, including its implementation of environmental 
  protection measures on which it spent approximately RUB 8 billion in 2018, 
       and ensures the long-term sustainability of the Company's operations. 
 
   The AGM elected new members of PhosAgro's Board of Directors and Revision 
 Commission, approved the annual financial statements for 2018, distribution 
         of the Company's profit for 2018 and interested-party transactions. 
      Shareholders also approved payment of remuneration and compensation to 
members of the Board of Directors. PhosAgro's auditor for 2019 was confirmed 
                                         as LLC FBK. 
 
                                     For further information please contact: 
 
                                         PhosAgro 
 
                   Alexander Seleznev, Head of Investor Relations Department 
 
                                         [phone] ext 2187 
 
                                         [e-mail] 
 
                                         Timur Belov, Press Officer 
 
                                         [phone] 
 
                                         EM 
 
                                         Sam VanDerlip 
 
                                         [e-mail] 
 
                                         [phone] 
 
                                         [phone] 
 
                                         Dmitriy Zhadan 
 
                                         [e-mail] 
 
                                         [phone] 
 
                                         [phone] 
 
                                         About the Company 
 
PhosAgro is one of the world's leading vertically integrated phosphate-based 
      fertilizer producers in terms of production volumes of phosphate-based 
    fertilizers and high-grade phosphate rock with a P2O5 content of 39% and 
                                         higher. 
 
The Company is the largest phosphate-based fertilizer producer in Europe (by 
    total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of 
  high-grade phosphate rock with a P2O5 content of 39%, a top-three producer 
  of MAP/DAP globally, one of the leading producers of feed phosphates (MCP) 
   in Europe, and the only producer in Russia, and Russia's only producer of 
                              nepheline concentrate (according to the RAFP). 
 
  PhosAgro's main products include phosphate rock, 39 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. 
 
More information about PhosAgro can be found on the website: www.phosagro.ru 
                                         [1]. 
 
ISIN:           US71922G2093 
Category Code:  AGM 
TIDM:           PHOR 
LEI Code:       635400F8A3KGJIIBIK95 
OAM Categories: 2.2. Inside information 
Sequence No.:   8802 
EQS News ID:    815753 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=443ca16678306c21ad7d78a6b83a5230&application_id=815753&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

May 24, 2019 10:07 ET (14:07 GMT)