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PhosAgro to increase number of board members

Published by , Assistant Editor
World Fertilizer,

Vertically integrated phosphate-based fertilizer producer, PhosAgro, has announced that a general meeting of shareholders (GM) has concluded to approve a resolution to increase the number of people on the company’s board of directors from eight to 10.

The GM also approved a dividend payment of RUB2 719.5 million, or RUB21 per ordinary share (RUB7 per global depositary receipt), from the undistributed net profit as of 31 December 2016. The record date for shareholders eligible to receive dividends was set as 17 July 2017.

PhosAgro board of directors member and CEO, Andrey Guryev, said: “The company always strives to adhere to best corporate practices, both in terms of shareholder returns and governance. This is why, following the SPO earlier this year, we have decided to increase the number of members of the Board of Directors.”

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