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PhosAgro EGM Approves Dividends

1 October 2020
Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that yesterday an Extraordinary General Meeting of shareholders (“EGM”) held by absentee voting has approved the payment of dividends in the amount of RUB 4.2735 billion, or RUB 33 per share. 

Dividends will be paid from the Company’s undistributed net profit as of 30 June 2020. The dividend record date has been set as 15 October 2020.

Commenting on the EGM’s decision, PhosAgro CEO and member of the Board of Directors Andrey Guryev said: "Stable dividends are the result of large-scale investments made by PhosAgro in line with its strategy to 2020. Over the past 5 years, PhosAgro has invested over RUB 190 billion into expanding and modernization of its production capacities using the best available technologies. Even under the challenging conditions brought on by the pandemic, PhosAgro has not only avoided suspending its production and investment programmes, which are proceeding according to plan, but it has already created 200 additional jobs since the beginning of the year. 

“Most of these jobs were created in Volkhov, where the flagship project of PhosAgro's new development strategy to 2025 is being implemented. Between the end of this year and the middle of next year, the construction of a completely new plant at our Volkhov site will create additional production capacity, enabling PhosAgro to produce up to 800,000 additional tonnes of fertilizers in 2022. At the same time, we will continue to implement social and charity programmes, for which PhosAgro earmarks over RUB 2.5 billion annually.”