For Immediate Release 20 November 2012
PhosAgro Board Recommends 9M Dividend of RUB 25/share
Moscow - PhosAgro ("the
Company") (Moscow Exchange, LSE: PHOR), a leading global vertically
integrated phosphate-based fertilizer producer, announces that its
Board of Directors today recommended that the Company's
shareholders approve the payment of interim dividends for the 9
months ended 30 September 2012
amounting to RUB 3,111,927,000, or
RUB 25 per share (RUB 8.33 per GDR).
The dividends are planned to be paid from PhosAgro's net income
for the first 9 months of 2012.
Since the Company's IPO, PhosAgro has committed more than
RUB 11.8 billion (RUB 96 per share or $1.02 per GDR) to dividend payments, or more than
half of its net profit over that period.
An Extraordinary General Meeting of Shareholders (EGM) has been
called for 29 December 2012, and will
be conducted via absentee vote. The cut-off date for shareholders
eligible to participate in the EGM is 23
November 2012.
At the EGM, shareholders will also vote on approval of the
Company's Regulation on the Management Board and also the new
version of PhosAgro's Charter that will incorporate previously
approved amendments and additions to the Charter.
For further information please contact:
OJSC PhosAgro
+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer
M:Communications
Sam VanDerlip
vanderlip@mcomgroup.com
+44 (0) 20 7920 2356
Notes 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 (with P2O5 content of not less than 39
percent), as well as ammonia and nitrogen-based fertilisers.
The Group is the largest phosphate-based fertiliser producer in
Europe, the largest producer of
high-grade phosphate rock worldwide and the second 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 according to the G.P. Luzin Institute of Economic
Problems of the Kolskiy Scientific Centre of the Russian Academy of
Sciences, 2010).
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. PhosAgro's
2011 IFRS revenue was over USD 3.4
bln and EBITDA was USD 1.2
bln. The ะก ompany's net debt/EBITDA ratio was 0.43 at
31 December 2011.
For further information on PhosAgro please visit:
www.PhosAgro.com