PhosAgro AGM Approves Final 2014 Dividend

OJSC PHOSAGRO - PhosAgro AGM Approves Final 2014 Dividend

PR Newswire

London, June 8

PhosAgro AGM Approves Final 2014 Dividend

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that on 8 June 2015 the annual general meeting of shareholders ("AGM") approved a final 2014 dividend of over RUB 1.94 billion, or RUB 15 per ordinary share (RUB 5 per global depositary receipt). 

The final dividend payment comes in addition to interim dividends for 6 and 9 months amounting to over RUB 5.82 billion. This brings PhosAgro’s total dividends for 2014 to over RUB 7.78 billion. The record date for shareholders eligible to receive the final 2014 dividend is 19 June 2015.

PhosAgro Board of Directors Member and CEO Andrey Guryev said: "The previous year was quite successful the for mineral fertilizer market. In this environment, PhosAgro leveraged its competitive advantages while optimising production and business processes, which enabled us to achieve record output levels. We will not rest on our laurels, however, and intend to continue increasing our sales and production volumes while introducing new capacities. This will secure stable cash flows, meaning we can continue to adhere to our dividend policy."

At the AGM shareholders also approved PhosAgro's annual report and statutory financial statements for 2014, elected the Board of Directors and Review Committee, set the total amount and procedures for payment of remuneration and compensation to members of the Board of Directors, and approved a related party transaction.

Shareholders also approved FBK as the Company's RAS auditor. KPMG will audit PhosAgro's consolidated IFRS financial statements for 2015.

For further information please contact: OJSC PhosAgroIrina Evstigneeva, Head of Corporate Finance and Investor Relations[email protected]+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlip[email protected]+44 7554 993 032+7 499 918 3134Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers. 

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. 

PhosAgro’s 2014 IFRS revenue was over USD 3.2 bln and EBITDA was USD 979 mln.

For further information on PhosAgro please visit: www.PhosAgro.com