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PhosAgro Board of Directors Recommends Final 2013 Dividend

15 April 2014
Moscow – PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors has recommended a final 2013 dividend of RUB 19.3 per share (RUB 6.4 per depositary receipt), or RUB 2,499,350,000 in total.  If approved by the Annual General Meeting of Shareholders (the “AGM”), the final 2013 dividend would come in addition to the RUB 2,000,775,000, or RUB 15.45 per share (RUB 5.15 per depositary receipt) already paid during 2013.

PhosAgro Board Member and CEO Andrey Guryev said: “With today’s recommended dividend we are once again demonstrating our commitment to PhosAgro’s dividend policy and to upholding the promises made to shareholders during the IPO and SPO.  The Company’s sustainable financial position, combined with strategic initiatives we are implementing to build shareholder value and maintain PhosAgro’s leading positions in the global fertilizer market, have ensured stable cash flows for dividend payments.”

The AGM date has been set for 13 June 2014, and the shareholder register cutoff date for AGM participation is 26 April 2014.  The Board has recommended 24 June 2014 as the ex-dividend date.

The AGM agenda will include approval of the annual report and statutory financial statements for 2013, distribution of profit, including payment of dividends, election of the Board of Directors and the Review Committee, approval of the Company’s auditor, and approval of related party transactions.  Independent Director Ivan Rodionov has been appointed to chair the AGM.

The Board of Directors today reviewed PhosAgro’s consolidated IFRS financial statements, the statutory financial statements for 2013, and approved several internal corporate documents, including a code of ethics and a charity policy.