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PhosAgro Announces Results of Extraordinary General Meeting of Shareholders

12.12.2024 | News

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.


 

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