Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors at a meeting today reviewed the Company’s interim consolidated IFRS financial statements for the first nine months of 2014, and recommended an interim dividend for the period of RUB 2.59 billion, which represents RUB 20 per share (RUB 6.67 per global depositary receipt).
The Board has called an EGM to vote in absentia on the dividend recommendation on 31 December 2014. The recommended dividend record date is 11 January 2015.
PhosAgro CEO Andrey Guryev said: “PhosAgro’s sustainable stable cash flows enabled us to recommend another interim dividend, in keeping with the promises we have made to investors.”
Including the 6M 2014 interim dividends already paid, the Company’s total interim dividend payouts for 2014 could amount to RUB 5.83 billion.
The Board of Directors approved changes to the Management Board, which now has the following makeup:
- CEO and Chairman of the Management Board – Andrey Guryev
- Director of Human Resources – Sirojiddin Loikov
- Deputy CEO for Corporate and Legal Affairs – Alexey Sirotenko
- Chief Operating Officer – Mikhail Rybnikov
- Chief Financial Officer – Alexander Sharabaiko
The Board approved a number of corporate documents, including a sales management strategy and a risk management policy.
In addition, the Board of Directors approved the Risk Management Committee’s governing provisions and several related party transactions.