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PJSC PHOSAGRO - PhosAgro EGM Approves Dividend PaymentPJSC PHOSAGRO - PhosAgro EGM Approves Dividend Payment
PR Newswire
London, October 1
| For Immediate Release | 1 October 2018 |
PhosAgro EGM Approves Dividend Payment
Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that today an Extraordinary General Meeting of Shareholders (“EGM”) approved the payment dividends in the amount of RUB 5.83 billion, or RUB 45 per common share (RUB 15 per global depositary receipt), from undistributed net income. The EGM set 12 October 2018 as the record date for the receipt of dividends.
PhosAgro CEO Andrey Guryev said:"successful implementation of investment projects has enabled the Company to generate stable cash flows, 50-60% of which is directed annually to finance projects under our new investment cycle. At the same time, we continue to make dividend payments and implement social and charity programmes.
“In particular, in the first six months of this year, RUB 15 billion was allocated to capital expenditure, and we forecast a total of RUB 32-33 billion for the full year. Among the main projects that are underway are the construction of new advanced sulphuric and nitric acid plants, as well as new ammonium sulfate production and mondernisaation of existing sulphuric acid lines at our Cherepovets site, while in Kirovsk we are focussed on the construction of a conveyor system for transportation of overburden and modernisation of the apatite-nepheline enrichment facilities in order to start processing off-balance ores. Recently, we commissioned an ammonia pipeline and an upgraded sulphuric acid plant in Balakovo, and we are analysing prospects for the further development of production in Volkhov."
For further information please contact:PhosAgro
Alexander Seleznev, Head of Investor Relations Department+7 495 232 9689 ext 2187ir@phosagro.ruTimur Belov, Press Officer+7 495 232 9689EMSam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134About 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