OJSC PhosAgro (PHOR)
PhosAgro EGM Approves Dividends
15-Dec-2020 / 09:50 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
For Immediate Release 15 December 2020
PhosAgro EGM Approves Dividends
Moscow - The shareholders of PhosAgro (Moscow Exchange, LSE: PHOR), a
leading global vertically integrated producer of phosphate-based
fertilizers, decided at an extraordinary general meeting (EGM) to pay out
dividends in the amount of RUB 15.9285 billion at a rate of RUB 123 per
ordinary share from the Company's undistributed net profit as of 30
September 2020. The dividend record date has been set as 25 December 2020.
Commenting on the EGM's decision, PhosAgro CEO Andrey Guryev said: "PhosAgro
has been implementing a large-scale investment programme in recent years,
which has expanded opportunities for the Company to generate free cash flow.
This has enabled us to implement new investment projects as well as
charitable and social responsibility programmes, while ensuring stable
dividend payments to shareholders. Despite the challenging conditions of the
pandemic, PhosAgro managed in 2020 not only to not curtail its production
and investment programme, which will be carried out as planned this year,
but also to create 570 new jobs since the beginning of the year.
"As part of our Development Strategy to 2025, we continue the vigorous
implementation of a key investment project in the city of Volkhov, in the
Leningrad region. The construction of a state-of-the-art facility for the
production of phosphate-based fertilizers and support infrastructure -
including a power plant - at a cost of RUB 28 billion will enable us to make
PhosAgro's Volkhov chemical plant a driver for development of the industry
in the long term, more than quadrupling commercial production at the
enterprise from 200 thousand tonnes per year to 860 thousand tonnes per
year. The project will result in about RUB 3 billion in additional tax
revenues over five years once the plant reaches full capacity in 2023."
About the company
PhosAgro (www.phosagro.ru [1]) is one of the world's leading vertically
integrated phosphate-based fertilizer producers in terms of production
volumes of phosphate-based fertilizers and high-grade phosphate rock with a
P2O5 content of 39% and higher. PhosAgro's environmentally friendly
fertilizers stand out for their high efficiency, and they do not lead to the
contamination of soils with heavy metals.
The Company is the largest phosphate-based fertilizer producer in Europe (by
total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer of
high-grade phosphate rock with a P2O5 content of 39%, a top-three producer
of MAP/DAP globally, one of the leading producers of feed phosphates (MCP)
in Europe, and the only producer in Russia, and Russia's only producer of
nepheline concentrate (according to the RAFP).
PhosAgro's main products include phosphate rock, more than 50 grades of
fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which
are used by customers in 102 countries spanning all of the world's inhabited
continents. The Company's priority markets outside of Russia and the CIS are
Latin America, Europe and Asia.
PhosAgro's shares are traded on the Moscow Exchange, and global depositary
receipts (GDRs) for shares trade on the London Stock Exchange (under the
ticker PHOR). Since 1 June 2016, the Company's GDRs have been included in
the MSCI Russia and MSCI Emerging Markets indexes.
More information about PhosAgro can be found on the website: www.phosagro.ru
[1].
ISIN: US71922G2093
Category Code: ROM
TIDM: PHOR
LEI Code: 25340053KRUNNYUWF472
OAM Categories: 2.2. Inside information
Sequence No.: 89695
EQS News ID: 1155129
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=443ca16678306c21ad7d78a6b83a5230&application_id=1155129&site_id=vwd&application_name=news(END) Dow Jones Newswires
December 15, 2020 01:50 ET (06:50 GMT)
