Last checked at 11 Apr 2012 16:00
For Immediate Release 11 April 2012
PhosAgro Board Recommends 2011 Dividend to AGM
Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that the Board of Directors today approved the Company's audited consolidated IFRS financial statements for the year ended 31 December 2011, recommended a 2011 dividend payment of RUB 32.5 per share (RUB 10.83 per GDR) and set the date of the Company's Annual General Meeting of Shareholders ("AGM") for 30 May 2012. The record date for dividends and the AGM will be 18 April 2012.
The Board of Directors today recommended a dividend payment for 2011 of RUB 4,045,505,100. If approved by the AGM, this would bring PhosAgro's total dividends for the nine month period of April-December 2011 to RUB 7,157,432,100, or RUB 57.5 per share (RUB 19.167 per GDR). Pending AGM approval of the recommended 2011 dividend, PhosAgro's total dividend payments in 2011 (including for January-March 2011 and April-September 2011) will amount to over RUB 11 billion.
The AGM agenda passed today by the Board also includes approval of PhosAgro's annual reporting, election of members of the Board of Directors and Review Committee and approval of remuneration for the Board of Directors.
At today's meeting the Board of Directors also approved a new version of PhosAgro's Insider Information Policy.
For further information please contact:
OJSC PhosAgro
+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsUKStuart Leasorleasor@mcomgroup.com+ 44 20 7920 2317RussiaSam VanDerlipvanderlip@mcomgroup.com+7 495 663 8005Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser 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 a leading producer of MCP feed phosphates 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, representing over 75 years of production. The Group also controls substantial Al2O3 resources, and has 41% of Russia's rare earth oxides resources.
The Group'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 fertiliser 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. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgro's 1H 2011 IFRS revenue was $1.7 bln and EBITDA was $620 mln. The С ompany's net debt/EBITDA ratio was 0.6 at 30 June 2011.
For further information on PhosAgro please visit: www.PhosAgro.com