For Immediate Release 20 November 2012
PhosAgro Board Recommends 9M Dividend of RUB 25/share
Moscow - PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), a leading
global vertically integrated phosphate-based fertilizer producer, announces
that its Board of Directors today recommended that the Company's shareholders
approve the payment of interim dividends for the 9 months ended 30 September
2012 amounting to RUB 3,111,927,000, or RUB 25 per share (RUB 8.33 per GDR).
The dividends are planned to be paid from PhosAgro's net income for the first 9
months of 2012.
Since the Company's IPO, PhosAgro has committed more than RUB 11.8 billion (RUB
96 per share or $1.02 per GDR) to dividend payments, or more than half of its
net profit over that period.
An Extraordinary General Meeting of Shareholders (EGM) has been called for 29
December 2012, and will be conducted via absentee vote. The cut-off date for
shareholders eligible to participate in the EGM is 23 November 2012.
At the EGM, shareholders will also vote on approval of the Company's Regulation
on the Management Board and also the new version of PhosAgro's Charter that
will incorporate previously approved amendments and additions to the Charter.
For further information please contact:
+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer
+44 (0) 20 7920 2356
Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser
producer. The Group focuses on the production of phosphate-based fertilisers,
feed phosphate and high-grade phosphate rock (with P2O5 content of not less
than 39 percent), as well as ammonia and nitrogen-based fertilisers.
The Group is the largest phosphate-based fertiliser producer in Europe, the
largest producer of high-grade phosphate rock worldwide and the second largest
MAP/DAP producer in the world (excluding China), according to Fertecon.
PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the
only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high
quality apatite-nepheline ore, representing over 75 years of production. The
Group also controls substantial Al2O3 resources and has 41% of Russia's rare
earth oxides resources according to the G.P. Luzin Institute of Economic
Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,
The Group's mines and phosphate rock production facilities are located in the
mountainous areas of the Kola Peninsula in the Murmansk region of northwest
Russia, whereas its fertiliser and feed phosphate production assets are located
near the city of Cherepovets in the Vologda region and near the city of
Balakovo in the Saratov region of southwest part of European Russia. PhosAgro's
2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The С
ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com