PhosAgro EGM Approves Dividends

DJ PhosAgro EGM Approves Dividends

OJSC PhosAgro (PHOR) 
PhosAgro EGM Approves Dividends 
 
15-Dec-2020 / 09:50 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 15 December 2020 
 
                   PhosAgro EGM Approves Dividends 
 
       Moscow - The shareholders of PhosAgro (Moscow Exchange, LSE: PHOR), a 
            leading global vertically integrated producer of phosphate-based 
   fertilizers, decided at an extraordinary general meeting (EGM) to pay out 
     dividends in the amount of RUB 15.9285 billion at a rate of RUB 123 per 
         ordinary share from the Company's undistributed net profit as of 30 
  September 2020. The dividend record date has been set as 25 December 2020. 
 
Commenting on the EGM's decision, PhosAgro CEO Andrey Guryev said: "PhosAgro 
   has been implementing a large-scale investment programme in recent years, 
which has expanded opportunities for the Company to generate free cash flow. 
         This has enabled us to implement new investment projects as well as 
      charitable and social responsibility programmes, while ensuring stable 
dividend payments to shareholders. Despite the challenging conditions of the 
   pandemic, PhosAgro managed in 2020 not only to not curtail its production 
   and investment programme, which will be carried out as planned this year, 
            but also to create 570 new jobs since the beginning of the year. 
 
      "As part of our Development Strategy to 2025, we continue the vigorous 
   implementation of a key investment project in the city of Volkhov, in the 
   Leningrad region. The construction of a state-of-the-art facility for the 
      production of phosphate-based fertilizers and support infrastructure - 
including a power plant - at a cost of RUB 28 billion will enable us to make 
  PhosAgro's Volkhov chemical plant a driver for development of the industry 
        in the long term, more than quadrupling commercial production at the 
     enterprise from 200 thousand tonnes per year to 860 thousand tonnes per 
      year. The project will result in about RUB 3 billion in additional tax 
     revenues over five years once the plant reaches full capacity in 2023." 
 
About the company 
 
     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, more than 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.:   89695 
EQS News ID:    1155129 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=443ca16678306c21ad7d78a6b83a5230&application_id=1155129&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

December 15, 2020 01:50 ET (06:50 GMT)