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PhosAgro Board Recommends 2011 Dividend to AGM

11 April 2012
Moscow, 11 April 2012 – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that the Board of Directors today approved the Company’s consolidated audited IFRS financial statements for the year ended 31 December 2011, recommended a 2011 dividend payment of RUB 32.5 per share (RUB 10.83 per GDR) and set the date of the Company’s Annual General Meeting of Shareholders (“AGM”) for 30 May 2012.  The record date for dividends and the AGM will be 18 April 2012.

The Board of Directors today recommended a dividend payment for 2011 of RUB 4,045,505,100.  If approved by the AGM, this would bring PhosAgro’s total dividends for the nine month period of April-December 2011 to RUB 7,157,432,100, or RUB 57.5 per share (RUB 19.167 per GDR).  Pending AGM approval of the recommended 2011 dividend, PhosAgro’s total dividend payments in 2011 (including for January-March 2011 and April-September 2011) will amount to over RUB 11 billion.

The AGM agenda passed today by the Board also includes approval of PhosAgro’s annual reporting, election of members of the Board of Directors and Review Committee and approval of remuneration for the Board of Directors.

At today’s meeting the Board of Directors also approved a new version of PhosAgro’s Insider Information Policy.