Popular Queries

PhosAgro AGM Approves Final 2014 Dividend

8 June 2015
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that on 8 June 2015 the annual general meeting of shareholders ("AGM") approved a final 2014 dividend of over RUB 1.94 billion, or RUB 15 per ordinary share (RUB 5 per global depositary receipt).  

The final dividend payment comes in addition to interim dividends for 6 and 9 months amounting to over RUB 5.82 billion.  This brings PhosAgro’s total dividends for 2014 to over RUB 7.78 billion.  The record date for shareholders eligible to receive the final 2014 dividend is 19 June 2015.

PhosAgro Board of Directors Member and CEO Andrey Guryev said: "The previous year was quite successful the for mineral fertilizer market.  In this environment, PhosAgro leveraged its competitive advantages while optimising production and business processes, which enabled us to achieve record output levels.  We will not rest on our laurels, however, and intend to continue increasing our sales and production volumes while introducing new capacities.  This will secure stable cash flows, meaning we can continue to adhere to our dividend policy."

At the AGM shareholders also approved PhosAgro's annual report and statutory financial statements for 2014, elected the Board of Directors and Review Committee, set the total amount and procedures for payment of remuneration and compensation to members of the Board of Directors, and approved a related party transaction.

Shareholders also approved FBK as the Company's RAS auditor.  KPMG will audit PhosAgro's consolidated IFRS financial statements for 2015.