Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that an extraordinary general meeting of shareholders (“EGM”) has approved a resolution to increase the number of people on the Company’s Board of Directors from 8 to 10.
The EGM also approved a dividend payment of RUB 2,719.5 million, or RUB 21 per ordinary share (RUB 7 per global depositary receipt), from the undistributed net profit as of 31 December 2016. The record date for shareholders eligible to receive dividends was set as 17 July 2017.
PhosAgro Board of Directors member and CEO Andrey Guryev said: “The Company always strives to adhere to best corporate practices, both in terms of shareholder returns and governance. This is why, following the SPO earlier this year, we have decided to increase the number of members of the Board of Directors.”