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Dividends

Dividend Policy

PhosAgro’s dividend policy is based on the following principles:

  • shareholders’ interests are to be balanced between payment of dividends and reinvestment of profit into further development;
  • there is to be a transparent and predictable dividend policy that is attractive to investors; and
  • the majority of profit is to be used for reinvestment to support the Company’s growth.

A decision regarding the payment of a dividend, its timing and the exact amount of such a payment is subject to approval of the General Shareholders Meeting, based on recommendations by the PhosAgro Board of Directors. The Board of Directors’ recommendations depend on such factors as the Company’s earnings, cash requirements, and financial position.

The amount of dividend payments is based on the Company’s net profits for set reporting periods (first quarter, six months, nine months and/or full year) calculated under Russian Accounting Standards (RAS).

A decision on the payment of an interim dividend is made by the General Shareholders Meeting within three months after the end of the relevant period. The timing of the dividends payment is determined by the General Shareholders Meeting and should not exceed 60 days following the decision.

Holders of PhosAgro GDRs are also entitled to receive dividends in respect of shares underlying the GDRs, subject to the terms of their Deposit Agreements.

PhosAgro’s dividend policy stipulates that the Board of Directors will always try to recommend dividend payments of between 30% and 50% of the Company’s consolidated profit for the year attributable to PhosAgro shareholders calculated in accordance with IFRS.

Dividend Payments

PERIOD       TOTAL AMOUNT, 
RUB MILLION
PER SHARE,
RUB
PER GDR,
RUB
2Q 20185,8284515
1Q 20183,108248
4Q 20171,943155
3Q 20172,719.5217
2Q 20173,108248
1Q 20172,719.5217
4Q 20163,8853010
3Q 20165,050.53913
2Q 20164,273.53311
1Q 20168,158.56321
4Q 20157,3825719
3Q 20158,158.56321
2Q 20157,381.55719
1Q 20156,2164816
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