Fertiglobe board of directors approves US$150 million interim dividend for H1 2024
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
Fertiglobe has announced that its board of directors has approved an interim cash dividend for H1 2024 of US$150 million, equivalent to AE$551 million or 6.6 fils per share. The dividend will be paid during October 2024 to shareholders of record.
Including the announced dividend, the company will have paid US$2.42 billion in dividends since its initial public offering (IPO) in October 2021, representing one of the highest dividend yields and total return metrics in its sector. Based on the interim dividend announced, the annualised dividend yield exceeds 5%.
Ahmed El-Hoshy, Chief Executive Officer of Fertiglobe, said: “Fertiglobe is entering a pivotal phase of growth, accelerating the development of a sustainable hydrogen value chain and expanding its global platform for ammonia and clean hydrogen solutions.
In 2024, the company achieved progress on key strategic objectives, including the final investment decision (FID) on its 1 million tpy low-carbon ammonia project in partnership with TA’ZIZ, GS Energy and Mitsui & Co., with production expected by 2027. Additionally, they secured a €397 million contract to supply renewable ammonia from Egypt to Europe.
Read the article online at: https://www.worldfertilizer.com/special-reports/01102024/fertiglobe-board-of-directors-approves-us150-million-interim-dividend-for-h1-2024/
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