PhosAgrohas announced that an extraordinary general meeting of shareholders has approved the payment of dividends in the amount of RUB9324 million, or RUB72/share.
The payment will be made from the company's undistributed net profit as of 31 March 2019. The dividend record date has been set as 10 July 2019.
PhosAgro CEO and Board of Directors member, Andrey Guryev, said: "PhosAgro's recently-completed large-scale investment programme under the company's strategy to 2020, which was completed ahead of schedule last year, has enabled the company to generate consistent cash flows that can support considerable dividend payments, finance new investment projects and pay for social responsibility programmes.
"Under the company's strategy to 2025, approved in March 2019, PhosAgro will continue to modernise existing facilities and build new capacities using BATs, as well as innovative and digital solutions.
"We are confident that implementation of this strategy will strengthen PhosAgro's position among global industry leaders as a producer of pure phosphate-based fertilizers, as well as a socially responsible employer that builds corporate housing and takes part in the implementation of a number of major social programmes in the fields of education, healthcare, youth policy, support for sport and environmental initiatives."
Read the article online at: https://www.worldfertilizer.com/phosphates/25062019/phosagro-egm-approves-dividends/