PhosAgro will spend about $218 million on dividends
At the extraordinary meeting, PhosAgro shareholders decided to pay dividends of 15.928 billion rubles (approximately $216.94 million) at the rate of 123 rubles ($1.68) per ordinary share. The payments will be made from retained net profit as of September 30 of 2020.
“In recent years, PhosAgro has implemented a large-scale investment program, which has expanded the company’s ability to generate free cash flow. This allows us to implement new investment projects and programs in the field of charity and social responsibility, ensuring stable dividend payments to shareholders. In the challenging time of the COVID-19 pandemic, PhosAgro managed not only to maintain its production and investment programs at the planned level this year but also to create 570 additional jobs since the beginning of the year,” said PhosAgro CEO Andrey Guryev.