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PJSC PHOSAGRO - PhosAgro AGM Approves DividendPJSC PHOSAGRO - PhosAgro AGM Approves Dividend
PR Newswire
London, May 30
| For Immediate Release | 30 May 2017 |
PhosAgro AGM Approves Dividend
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, reports that on 30 May 2017, the Annual General Meeting of shareholders (AGM) approved the distribution of net profit for 2016 for investments and dividends. From the retained earnings, RUB 3.885 billion, or RUB 30 per ordinary share (RUB 10 per global depositary receipt) will be allocated to pay a final dividend for 2016.
The record date for shareholders eligible to receive dividends was set as 13 June 2017.
In his address to the participants of the AGM, PhosAgro Board of Directors Member and CEO Andrey Guryev said: "Our clear development strategy is one of the keys to delivering record-setting operating results year after year. The Strategy to 2020, which was developed and adopted in 2013, enabled PhosAgro to significantly strengthen its competitive advantages, while at the same time creating a certain safety cushion to enable the Company to pass painlessly through the troughs in the market cycle. Thanks to investments in modernisation of production facilities and optimisation of business processes, annual production of fertilizers grew to a record level of 7.4 million tonnes in 2016 (up 9.4% year-on-year).
“The high level of professionalism and well-coordinated work of our team made it possible to already reach the final stage of our key investment projects within the framework of the Strategy to 2020. This enabled us to update the current strategy and present it to investors in March of this year, and to start work on a new development programme for the Company through 2025."
At the AGM, shareholders also approved the annual report and the annual financial statements for 2016, elected members of the Board of Directors and the Revision Commission, determined the total amount and procedure for payment of remuneration and compensation to members of the Board of Directors.
FBK was once again approved as the Company's Russian accounting standards auditor.
For further information please contact:
PJSC PhosAgroAlexander Seleznev, Head of Investor Relationsir@phosagro.ru+7 495 232 96 89 ex 21 87Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134Notes 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%), as well as ammonia and nitrogen-based fertilizers.
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.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.
PhosAgro’s 2016 IFRS revenue was over USD 2.8 bln and EBITDA was USD 1.08 bln.
For further information on PhosAgro please visit: www.PhosAgro.com