DJ PhosAgro EGM Approves Dividends
OJSC PhosAgro (PHOR)
PhosAgro EGM Approves Dividends
01-Oct-2020 / 09:45 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release 1 October 2020
PhosAgro EGM Approves Dividends
Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading
vertically integrated phosphate-based fertilizer producers, announces that
yesterday an Extraordinary General Meeting of shareholders ("EGM") held by
absentee voting has approved the payment of dividends in the amount of RUB
4.2735 billion, or RUB 33 per share.
Dividends will be paid from the Company's undistributed net profit as of 30
June 2020. The dividend record date has been set as 15 October 2020.
Commenting on the EGM's decision, PhosAgro CEO and member of the Board of
Directors Andrey Guryev said: "Stable dividends are the result of
large-scale investments made by PhosAgro in line with its strategy to 2020.
Over the past 5 years, PhosAgro has invested over RUB 190 billion into
expanding and modernization of its production capacities using the best
available technologies. Even under the challenging conditions brought on by
the pandemic, PhosAgro has not only avoided suspending its production and
investment programmes, which are proceeding according to plan, but it has
already created 200 additional jobs since the beginning of the year.
"Most of these jobs were created in Volkhov, where the flagship project of
PhosAgro's new development strategy to 2025 is being implemented. Between
the end of this year and the middle of next year, the construction of a
completely new plant at our Volkhov site will create additional production
capacity, enabling PhosAgro to produce up to 800,000 additional tonnes of
fertilizers in 2022. At the same time, we will continue to implement social
and charity programmes, for which PhosAgro earmarks over RUB 2.5 billion
annually."
About PhosAgro
PhosAgro (www.phosagro.ru [1]) 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. PhosAgro's environmentally friendly
fertilizers stand out for their high efficiency, and they do not lead to the
contamination of soils with heavy metals.
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, over 50 grades of
fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which
are used by customers in 102 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: ROM
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 2.2. Inside information
Sequence No.: 85203
EQS News ID: 1138123
End of Announcement EQS News Service
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(END) Dow Jones Newswires
October 01, 2020 02:45 ET (06:45 GMT)
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