PhosAgro may spend over $57 million on dividends

At the meeting of the Board of Directors of PhosAgro, Andrey Guryev reported on the results of his work as the company’s CEO and the mid-term plans. The Board of Directors noted the significant progress of PhosAgro in all key areas of activity.

“Even in the challenging conditions of the pandemic, PhosAgro continues its steady development, fully maintaining its production and investment programs. Since the beginning of the year, the company has already created 200 additional jobs,” said PhosAgro CEO.

“The volume of production of mineral fertilizers and feed phosphates in the first half of 2020 increased by almost 7% compared to the same period last year. Sales of finished products increased by almost 10%, reaching 5.2 million tons. Supplies to the priority Russian market grew by 11.2%,” noted Andrey Guryev.

The Board of Directors also recommended the shareholders to take a decision on the payment of dividends in the amount of 4.2735 billion rubles (approximately $57.7 million) at the rate of 33 rubles ($0.45) per ordinary share (or 11 rubles ($0.15) per global depositary receipt) from retained net profit as of June 30 of the current year.