OREANDA-NEWS. PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertiliser producer, announces that today the annual general meeting of shareholders (“AGM”) approved a final 2012 dividend of RUB 19.90 per share with a nominal value of RUB 2.50 (RUB 6.63 per GDR). The total sum of the dividend is over RUB 2,577 million.

The final 2012 dividend payment comes in addition to PhosAgro’s interim dividend payments for 1H 2012 and 9M 2012. Including the dividend approved by the AGM today, the Company’s total dividend payments since its IPO in July 2011 will amount to more than RUB 17.5 billion, or RUB 140.4 per share (RUB 46.80 per GDR).

PhosAgro Board of Directors Member and CEO Maxim Volkov said: “Since our IPO, we have consistently exceeded our target dividend level of 20%-40% of IFRS profit attributable to shareholders, paying out more than 49% of profit available for distribution. With a strong financial position and solid operating cash flows, we plan to maintain our dividend policy while continuing to implement our investment programme and other strategic initiatives aimed at increasing shareholder value.”

At today’s AGM shareholders also approved PhosAgro's annual report and financial accounts, elected the Board of Directors and Review Committee, and approved the total sum and principles for the remuneration of the Board of Directors.

Shareholders approved Tax Planning Centre “Korpus Prava” as the Company’s RAS auditor. KPMG will audit PhosAgro’s consolidated IFRS financi