OJSC PHOSAGRO - PhosAgro Board Recommends 9M Dividend of RUB 25/share

Date : 11/20/2012 @ 2:00AM
Source : PR Newswire (US)
Stock : (PHOR)
Quote : 13.6  0.0 (0.00%) @ 1:42AM
Quote Chart

OJSC PHOSAGRO - PhosAgro Board Recommends 9M Dividend of RUB 25/share

OJSC PHOSAGRO - PhosAgro Board Recommends 9M Dividend of RUB 25/share
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:

OJSC PhosAgro

+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer


Sam VanDerlip
+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, 2010).

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 ะก ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.

For further information on PhosAgro please visit: www.PhosAgro.com

Copyright r 20 PR Newswire

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