PhosAgro to pay substantial dividends

At the extraordinary meeting, PhosAgro shareholders decided to pay dividends in the amount of 10.101 billion rubles (approximately $145.5 million) at the rate of 78 rubles ($1.12) per ordinary share (or 26 rubles ($0.37) per global depositary receipt).

As PhosAgro CEO Andrey Guryev noted “the conducted antiviral measures and well-coordinated teamwork allowed us to ensure the safe operating of the productions and increase fertilizer sales to the Russian market and for export. As a result, the company shows sustainable growth in financials in the first quarter of this year. This helps us to maintain a decent level of dividend payouts, finance new strategic investment projects and continue implementing social and charity programs.”