PhosAgro ao

AGM Information • Dec 12, 2024

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author: Кузеванов Иван Сергеевич
date: 2024-12-11 15:51:00+00:00

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PhosAgro Announces Results of Extraordinary General Meeting of Shareholders

Moscow – At an Extraordinary General Meeting (EGM) held on 11 December 2024, PhosAgro’s shareholders approved the payment of dividends at a rate of RUB 126 per ordinary share. The total dividend payment will amount to RUB 16.317 billion.

The dividend record date was set as 22 December 2024; the dividend payment will be made on or before 4 February 2025.

“We have always adhered to a balanced and conservative financial and credit policy, implementing a large-scale investment programme while meeting our social and charitable obligations as well as our obligations to investors and shareholders.

“Today’s EGM decision is fully consistent with our dividend policy, which states that the dividend for any reporting period should be the larger of the following two values: no less than 50% of adjusted net profit or 50% of free cash flow if our net debt / EBITDA ratio is above 1.5x.

“Despite the elevated level of uncertainty in international markets, we established several new company records in 2024. By the end of December, we expect our annual output of finished products to surpass 11.7 million tonnes (up 4% year-on-year), our financing of social projects at the regional and national levels to exceed a record RUB 14 billion (up 14%) and our tax payments to reach RUB 77 billion (up 12%).

“All these results – long-term production growth in the range of 3%–5% year-on-year, a 60% increase in employee wages and over RUB 200 billion in tax payments over a three-year period – were made possible thanks to the consistent expansion of the our investment programme, in which we allocated a record RUB 75 billion this year (an increase of 17%). Over the past three years, more than RUB 200 billion has been invested in the Company’s growth,” said Viktor Cherepov, Chairman of the PhosAgro’s Board of Directors, commenting on the outcome of the Extraordinary General Meeting of Shareholders.

About the Company

PhosAgro (www.phosagro.ru) is a vertically integrated Russian company and one of the world’s leading producers of phosphate-based fertilizers and high-grade phosphate rock with P2O5 content of 39% or higher. PhosAgro’s high-performance fertilizers produce crops with advanced features.

PhosAgro Group is the largest producer of phosphate-based fertilizers in Europe (by total combined capacity for the production of DAP, MAP, NP, NPK and NPS fertilizers), one of the leading producers of MAP and DAP fertilizers globally, one of the leading producers of monocalcium feed phosphates (MCP) in Europe – and the only such producer in Russia – and Russia’s only producer of nepheline concentrate.

PhosAgro’s main products, including phosphate rock, 58 grades of fertilizers, feed phosphates, ammonia and sodium tripolyphosphate, are used by customers in 100 countries spanning all the world’s inhabited continents. The Company’s priority markets beyond Russia and the CIS are Latin America, Europe and Asia.

The Company’s shares are listed on the Moscow Exchange and its global depositary receipts (GDRs) are listed on the London Stock Exchange (MOEX and LSE ticker: PHOR).

More information about PhosAgro can be found on our website: www.phosagro.com.