PhosAgro is committed to striking an effective and reasonable balance between the payment of dividends and reinvestment of profit in further development.
Higher transparency and predictability of dividend payments are a priority for the Company as it seeks to ramp up its growth and strengthen its investment case.
All resolutions on the payment of dividends and the timing and amount of such payment are subject to approval of the General Meeting of Shareholders, based on recommendations provided by PhosAgro’s Board of Directors. When preparing recommendations for the General Meeting of Shareholders on any dividend payout (declaration), in addition to the current financial standing assessment, the Board of Directors takes into account the relevant provisions of PhosAgro's dividend policy whereby the amount of distributed dividends may range from 50 to over 75% (subject to PhosAgro's leverage ratio) of PhosAgro's consolidated free cash flow for the respective year under IFRS. At the same time, the amount of declared dividends should not be lower than 50% of adjusted net profit for the year under IFRS.
On 2 March 2023, PhosAgro’s Board of Directors recommended that the Annual General Meeting of Shareholders (AGM) approve the distribution of profits and losses of PhosAgro for 2022 and use part of the Company’s net profit for 2022 to pay out dividends in the amount of RUB 465 per each ordinary registered uncertified share.
Report on dividends declared and paid
Report on dividends declared and paid
Dividend per share, RUB
Dividend per GDR, RUB
Governance body deciding on the payment of dividends
Date of the General Meeting of Shareholders where the relevant resolution on the payment of dividends was adopted and No. of the minutes
Dividend payment timeframesFor nominee holders and trustees who are securities market professionals and are on PhosAgro’s register of shareholders / other persons on PhosAgro’s register of shareholders.
2020
Retained earnings as at 31 March 2020:
78
26
19 June 2020
No later than 7 July 2020/10 August 2020
…as at 30 June 2020
33
11
30 September 2020
No later than 16 October 2020/20 November 2020
…as at 30 September 2020
123
41
14 December 2020
No later than 28 December 2020/18 January 2021
…as at 31 December 2020 (based on 2020 results)
63
21
25 May 2021
No later than 8 June 2021/13 July 2021
2021
Retained earnings as at 31 December 2020 (based on 2020 results):
105
35
22 June 2021
No later than 6 July 2021/9 August 2021
…as at 30 June 2021
156
52
13 September 2021
No later than 8 October 2021/29 October 2021
…as at 30 September 2021
234
78
8 December 2021
No later than 21 December 2021/1 February 2022
...as at 31 December 2021 (based on 2021 results)The General Meeting of Shareholders did not approve profit distribution for FY 2021, including payment of dividends.
390 (no resolution passed)
130 (no resolution passed)
30 June 2022
No later than 25 July 2022/15 August 2022
2022
Retained earnings as at 30 June 2022
780
260
21 September 2022
No later than 17 October 2022/8 November 2022
9M 2022
318
106
8 December 2022
No later than 9 January 2023/30 January 2023
FY 2022
465
155
24 March 2023
No later than 9 January 2023/30 January 2023Provided that on 24 March 2023, the Annual General Meeting of Shareholders approves the FY 2022 payments recommended by the Board of Directors.
Results of the vote held by the Annual General Meeting of Shareholders on the distribution of profits (including payout (declaration) of dividends) and losses of the Company
Annual General Meeting of Shareholders of 25 May 2021
For
109,197,672
Against
6,704
Abstained
0
Annual General Meeting of Shareholders of 30 June 2022
For
38,088,321
Against
56,540,778
Abstained
0
Annual General Meeting of Shareholders of 24 March 2023
